Kudlow panelists Steve Forbes, David Bahnsen, and Jackie DeAngelis explain the state of the US economy heading into the new year.
Mortgage rates Home prices rose for the third straight week to their highest levels since July, further hampering demand in an already sluggish housing market.
Freddie Mac’s latest primary mortgage market survey, released Thursday, showed the average rate on the benchmark index… 30-year fixed mortgage It jumped to 6.91%, up from last week’s reading of 6.85%. The average interest rate on a 30-year loan was 6.62% a year ago.
Mortgage rates continued to rise this week, with the average 30-year fixed rate approaching 7%. (Getty Images/Getty Images)
“Mortgage rates are at nearly seven percent, reaching their highest point in nearly six months,” said Sam Khater, chief economist at Freddie Mac. “Compared to this time last year, prices are high and affordability headwinds persist in the market.”
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The average interest rate on a 15-year fixed mortgage rose to 6.13% from 6.0% last week. One year ago, the average interest rate on 15-year fixed bonds was 5.89%.
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