6.29% is the latest rate increase for mortgages - USFreak

6.29% is the latest rate increase for mortgage

Mortgage rates rose again this month due to the Federal Reserve's latest rate hike.

Mortgage rates rose to 6.29% for 30-year fixed-rate mortgages, an all-time high, according to Freddie Mac.

Those seeking lower mortgage rates also have to spend more money on discount points.

30-year fixed: 6.29% with 0.9 point (up from 6.02% a month ago, up from 2.88% a year ago).

15-year fixed: 5.44% with 1.0 point (up from 5.21% a month ago, up from 2.15% a year ago).

5/1-year adjustable: 4.97% with 0.4 point (up from 4.93% a month ago, up from 2.43% a year ago).

A rising mortgage rate continues to adversely affect the housing market

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