Average mortgage rates rise after 6 weeks of declines

KIFI

Published December 29, 2022 10:28 AM

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — The average long-term U.S. mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid rising home prices and a limited supply of available homes. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate increased to 6.42% this week from 6.27% last week. A year ago the average rate was 3.11%.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.