Business

US 30-Year Mortgage Rate Registers Biggest Weekly Gain Since April: Freddie Mac

‘It is a fool’s errand to try to time mortgage rates,’ said Bright MLS chief economist Lisa Sturtevant.
US 30-Year Mortgage Rate Registers Biggest Weekly Gain Since April: Freddie Mac
A townhouse for sale in Elkridge, Md., on Sept. 27, 2024. Madalina Vasiliu/The Epoch Times
Andrew Moran
|Updated:
0:00

Mortgage rates are climbing again despite the Federal Reserve cutting interest rates at last month’s policy meeting.

The 30-year fixed-rate mortgage rose to 6.32 percent for the week ending October 10, up from 6.12 percent a week ago, according to Freddie Mac’s Primary Mortgage Market Survey.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."