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Mortgage rates rise again amid worsening home affordability crisis
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Washington Examiner columnist Tiana Lowe Doescher and FOX Business Lydia Hu join Making Money host Charles Payne to discuss the impact of the housing crisis on young people.
Mortgage rates continued to climb this week, adding further pressure to the cooling housing market as more Americans are priced out of buying homes.
Freddie Mac reported Thursday that the average rate for the benchmark 30-year fixed mortgage jumped to 7.63%, up from 7.57% last week and from 6.94% a year ago.
The rate for a 15-year mortgage also climbed, averaging 6.92% after coming in last week at 6.89%. One year ago, the rate on a 15-year fixed note averaged 6.23%.
This is a breaking story that will be updated.
Read more on foxbusiness.comAbout this in other media
Zerodha's Nikhil Kamath on rising EMIs, house prices, and what lies ahead… livemint.com /11 months ago
Mortgage rates continue to hover near highest level since 2000 foxbusiness.com /11 months ago
The average long-term US mortgage rate slips to 7.76% in first drop after climbing 7 weeks in a row abcnews.go.com /11 months ago
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