Mortgage Rates Hit Highest Levels Since Spring 2020

1/7/2022 6:15:00 AM

The costs of buying a home are rising as mortgage rates climb to their highest levels since the early days of the pandemic

The costs of buying a home are rising as mortgage rates climb to their highest levels since the early days of the pandemic

The increase is driving up the costs associated with home buying at a time when home-sales prices are already near record highs.

sam.The seasonally adjusted Purchase Index decreased 4% during that time..channel after the OPEC and non-OPEC Ministerial Meeting on Tuesday.

goldfarb@wsj.com Updated Jan."Despite supply and affordability challenges, 2021 was a record year for purchase originations," Joel Kan, MBA’s associate vice president of economic and industry forecasting.6, 2022 7:28 pm ET U.S.74 trillion.mortgage rates this week rose to their highest levels since May 2020, driving up the costs associated with home buying at a time when home-sales prices are already near record highs.As before, we are almost 100% compliant with our commitments.

The average rate for a 30-year fixed-rate loan was 3.33%.22%, up from 3.11% last week, according to mortgage finance giant Freddie Mac."The higher rates to close 2021 caused refinance activity to decrease 2.A year ago, mortgage rates stood at 2.65%.Refinance demand continues to dwindle, as many borrowers refinanced in 2020, and in early 2021 – when mortgage rates were around 40 basis points lower," said Kan.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.

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