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Mortgage rates reach three-year high
Mortgage interest rates in the United States have risen to their highest level since late 2023, with the average fixed 30-year loan rate reaching 7.6%. This marks an increase of 15 basis points over the course of a week, driven by a wave of selling in the bond market and economic tensions, which have reduced purchasing power and led to a decline in demand for mortgage financing. Experts' forecasts indicate that interest rates will continue to climb, reaching approximately 7.1% by the end of the year. Additionally, some types of loans, such as the 15-year fixed option and the 5-year adjustable-rate mortgage, are experiencing fluctuations due to market pressures and rising borrowing costs.
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