The average rate for 30-year fixed mortgages reached the 6%-mark for the first time in 14 years, according to the most recent Mortgage Bankers Association survey.
hit the 6% mark for the first time in 14 years, according to a Mortgage Bankers Association survey released Wednesday.most popular U.S.
home loanLast week's average rate of 6% marks the first time since 2008 that it has hit that figure and is "essentially double what it was a year ago," Joel Kan, the associate vice president of economic and industry forecasting at MBA, said in a press release.The average interest rates for other common mortgage types also increased. The average rate for 30-year fixed jumbo mortgages rose to 5.56% from 5.
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