Economy

The US mortgage rate continues to climb for the sixth week in a row

The mortgage rate in the US continued to rise for the sixth week in a row, to reach its highest level in nine months.

Freddie Mac’s data revealed that the 30-year term mortgage rate reached 3.17% in the week ending on the 25th of March, its highest level since June 11th, compared to 3.09% last week.

Although mortgage costs remain weak by historical standards, they are witnessing a continuous rise since hitting an all-time low in January at 2.65%.

The recent rise in the mortgage rate came with the rise in the US Treasury 10-year note yield last week, up 1.75% for the first time in 14 months.

Categories: Economy, News

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