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Mortgage rates edge closer to 7%‚ dampening start of spring homebuying season
Mortgage rates climbed for the fourth week in a row‚ inching closer to 7% just as peak homebuying season gets underway.
The 30-year fixed-rate mortgage averaged 6.94% in the week ending February 29‚ up from 6.90% the previous week‚ according to data from Freddie Mac released Thursday. A year ago‚ the average 30-year fixed-rate was 6.65%.
“Mortgage rates continued their ascent this week‚ reaching a two-month high and flirting with 7% yet again‚” said Sam Khater‚ Freddie Mac’s chief...
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