For the first time since the housing crash more than a decade ago, mortgage rates have exceeded 6 percent, rising alongside the Federal Reserve’s inflation-busting tightening efforts.
The 30-year fixed-rate mortgage averaged 6.02 percent for the week ending on Sept. 15, according to the new Freddie Mac Primary Mortgage Market Survey (PMMS). That’s up from 5.89 percent the previous week and 2.86 percent the same week in 2021, and represents the highest mortgage rate since the housing crash of 2008.
