The 30-year fixed-rate mortgage averaged 6.02% in the week ending September 15, up from 5.89% the week before, according to Freddie Mac. That is significantly higher than this time last year, when it was 2.86%. Stubbornly high inflation is pushing rates up, said Sam Khater, Freddie Mac’s chief economist. “Mortgage rates continued to rise alongside hotter-than-expected inflation numbers this week, exceeding 6% for the first time since late 2008,” he said. After starting the year at 3.
“Core inflation remains stubbornly elevated, putting pressure on the Federal Reserve to maintain an aggressive stance on monetary tightening,” he said. “Markets are keeping a close eye on the central bank’s meeting next week, expecting another 75-basis-point increase in the policy rate, if not a 100-basis-point jump.” Sales are slowing, but affordability is still a challenge As mortgage rates rise and home prices remain high, home sales are slowing.
Thanks Biden
No they didn’t jump, someone in power-the decision makers bumped them up. Tell the truth for once, More fake news.
Biden's plan to destroy working Americans working to perfection. Anyone that didn't know this was coming must watch CNN.
BidensAmerica
I’m glad Joe is throwing his party while the worst economy in decades hits, clueless and spineless
El interés a pagar por las hipotecas en EE.UU. se dobla en un año y supera el nivel del 6%, dejándolo al nivel de cuando estalló la Crisis finaciera-hipotecaria de 2008.
People blaming Joe Biden for this in the comments are just proudly displaying their ignorance. Stop blaming the president for all of your problems and learn how our government works.
The Fed is raising rates which naturally results in this. Not saying it’s a good thing but it sure isn’t a surprise
22 years old Iranian girl is brutally killed by moral police مهسا_امینی Mahsa_Amini🖤
82 million 🤣
Biden put america in a path to destruction
Let's Go Brandon !
The current Carter administration should have learned the first time.
I bought my first house in 92 and my mtg. interest rate was 6.78 which was considered really low at the time. My current rate is 2%, I luckily got in just before they started climbing.
1st we couldn’t afford a house as prices skyrocketed. Now we can’t bc mortgage rates are skyrocketing. What’s to be done?
uluvtea
16% during Reagan 80s
Gotta love failed democrat policies!
And Democrats and Biden celebrating what inflation killing people from railroad workers to McDonald’s workers can’t buy house they raised interest rates can’t drive car or go out to show or eat I think these politicians make too much money they were not celebrating us
With the US mortgage rate hitting 6% for the first time since 2008, does it correlate with inflation rates? If not, how can the United States turn this around? econ_ta LuiggiDonayre ECONumd
This tweet states how the mortgage rates have risen from 2.86% last year at this time to 6.02% due to excessively high inflation rates. Since inflation should start to slowly decrease, will mortgage rates decrease as well?econ_ta LuiggiDonayre EconUMD
Now finance will starting making money , banks are still paying nothing on your money if you have it in your savings is stupid , you can get 3% on just gov bonds +You should have paid the higher house price if you were taking a mortgage , I got 1.98 and never see that again
ouch
Jesus eternal life ; free
Libs
That darn stubborn inflation. Something about these headlines just seem different in the past couple years. Oh well, back to staring out the window.
Nantucket comprised of 98% white rich liberal Biden voters who claim they support diversity are outraged when illegal aliens are brought to their community. They had no problem when 1000s of illegal aliens flooded poor towns as El Paso overwhelming those towns.
Republicans need to continually make this a point to win!
CNN =CLOWNS
Still historically low🙄🤷♂️
😰
2008: Bush hands off burning economy to Obama. 2020: Trump hands off burning economy to Biden. And no, MAGAs, low prices don't equal good economy. You're drooling. This is why you're on that side.
According to mortgage buyer Freddie Mac, the 30-year rate increased to 6.02% on Thursday from 5.89% the previous week.
Thank to Biden and the no-end-to-the-spending democrats. Hopefully, voters will remember this in November.
Joe Biden and the Democrats America
The Ministry of Foreign Affairs of Russia called for the release of war criminal Ratko Mladić. Will America do something or will it watch blindly...
GREED FUELS INFLATION
History rewind?west colonial powers decadance,edifice of world order &UN built by them in their interest including UNSC P5 is likely collapse with the new eastern electro magnetic waves rise to sweep world in new global nucleus germinated in SCO?greek Renaissance to new UN order?
Interest rate increases only affect people who work for a living & don’t get free govt money. In other words, Joe doesn’t care about inflicting pain on republicans 🤷♂️
Money was practically free a year ago. For household renewing anytime soon, this will be a shocker, maybe a deal breaker. Gov't can print money, households cannot. inflatoin interestrates mortgagerates
Lets Go Brandon 🤡🤦♂️
That reduction act is doing wonders.
Rising interest rates at the Fed are causing mortgage rates to rise
Wait...didn't Biden have a press conference about the inflation reduction act?
Bideninflation
People can’t afford homes?! Wow—could have fooled me
Something needed to cool off the housing market prices they are way to high. Maybe this is exactly what we need. 🤷♀️
Thanks Joe! Enjoy your weekly vacations!
10% in 1990... maybe that scale has to do with how many people are buying and not what you are talking about....at all
Its worth it to be rid of Trump
Great job Biden!
But Biden ans cure cancer now so…
The rising mortgage rates threaten to sideline even more homebuyers from a rapidly cooling housing market .
Stubborn? We printed trillions of dollars out of thin air. We all knew this would happen.
I don't understand. Making it to where people can't buy homes is going to make gas and everything else cheaper?
Democrats America
Mortgage buyer Freddie Mac reported Thursday that the 30- year rate rose to 6.02% from 5.89% last week .
*I will show you how you can earn $70,000 every 2days directly to your bank account or bitcoin wallet, but you will pay me 10% when you receive your profit Ask me how*
Let's Go Brandon!
JoeBiden “I did that”
You spelled “as Democrat policies fuel rises in inflation” wrong….
Yes CNN...but ask yourself 'why?'
Thanks Joe
Faster breaking news here NewsWire_US
Building Back Broker
Thanks Joe!
Thought inflation was at zero last month…🤔