Mortgage Rates Hit 6.02%, Highest Since the 2008 Financial Crisis
Mortgage rates topped 6% this week [9/15/22] , 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 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. [reported by Wall street Journal on 9/15/22]