Mortgage Rates Hit 6.91% as Fed Rate Hikes Continue Pressuring Housing Market
Key Points
- Mortgage rates hit 6.91%, a stark reminder of how far we've ...
Mortgage rates just hit 6.91% for a 30-year fixed loan as of June 16th, which is basically the financial equivalent of ordering a fancy coffee and discovering they're charging you restaurant prices. Thanks to the Fed's enthusiasm for hiking rates over the past few years, we've officially entered the "remember when 3% mortgages were boring?" era.
The Fed's Greatest Hits Tour: 5.25% in Rate Hikes
Since 2022, our friends at the Federal Reserve have been treating interest rates like a gym membership - aggressively pumping them up to combat inflation. Their 5.25 percentage point increase over...
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