Mortgage Rates Surge The Most In 35 Years As Fed Hits Home Buyers

U.S. mortgage rates surged the most in more than 36 years this week, data from Freddie Mac indicated Thursday, as house buying costs continue to track the Federal Reserve’s interest rate path amid the ongoing surge in domestic inflation.

Freddie Mac, the biggest individual mortgage loan buyer in the country, said 30-year fixed mortgage rates surged to 5.78%, a half-point increase from last week and the biggest increase since 1987. The headline rate, Freddie Mac said, is the highest since the November 2008 housing crisis. 

Source: https://www.thestreet.com/markets/mortgage-rates-surge-the-most-in-35-years-as-fed-hits-home-buyers?puc=yahoo&cm_ven=YAHOO&yptr=yahoo