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Mortgage Rates Hit 6.02%, Highest Since the Financial Crisis
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Mortgage rates topped 6% this week, a jolt to home buyers who last year were paying less than half that.
The average rate on a 30-year fixed mortgage climbed to 6.02% this week, up from 5.89% last week and 2.86% a year ago, according to a survey of lenders released Thursday by mortgage giant Freddie Mac . The last time rates were this high was in the heart of the financial crisis in 2008, when the U.S. was deep in recession.
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