🏡💸 Mortgage Alert: Rates on the Rise for the Third Week! 📈

[Alex Hunt]

Inching closer to the 7% mark, the 30-year fixed-rate mortgage has climbed to 6.90%, up from 6.77% last week and notably higher than the 6.50% recorded a year ago, according to Freddie Mac data.

After a period of smaller rate movements offering some relief to homebuyers, recent signals from the Federal Reserve hinting at delayed rate cuts have sparked an upward trend.

Sam Khater, Chief Economist at Freddie Mac, emphasizes that strong economic and inflation data are driving this shift. While historically a robust economy and higher rates didn't significantly impact the housing market, today's affordability challenges mean even minor shifts affect homebuyers.

Stay tuned for updates on this evolving mortgage landscape—a key resource to stay informed in the dynamic world of real estate! 🏠💡 #MortgageAlert #RealEstateUpdates #HomebuyingInsights 🌐📊