US mortgage rates climb to 6.7%, highest for 15 years
by Associated Press from Economics | The Guardian on (#646Y3)
Mortgages rise for sixth straight week, threatening to sideline even more homebuyers as Americans struggle with cost of borrowing
US mortgage rates rose this week for the sixth straight week, marking new highs not seen in 15 years, before a crash in the housing market triggered the Great Recession.
Mortgage buyer Freddie Mac reported on Thursday that the average on the key 30-year rate climbed to 6.7% from 6.29% last week. By contrast, the rate stood at 3.01% a year ago.
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