MORTGAGE RATES REACH HIGHEST LEVEL IN SEVEN YEARS

摘要

Freddie Mac's most recent weekly Primary Mortgage Market Survey, released on Oct. 11, shows that mortgage rates have risen to their highest level in seven years. The 30-year fixed-rate mortgage (FRM) rose 19 basis points to 4.90%, and rates reached their highest level since the week of April 14, 2011, according to Sam Khater, Freddie Mac's chief economist. The 30-year FRM averaged 3.91% a year ago. "Rising rates paired with high and escalating home prices is putting downward pressure on purchase demand," said Khater. "While the monthly payment remains affordable due to the still low mortgage rate environment, the primary hurdle for many borrowers today is the down payment and that is the reason home sales have decreased in many high-priced markets."