Freddie Mac: 30 Year Interest Rate Surpasses 7%
(Washington, DC) — Mortgage rates are on the rise yet again. Freddie Mac says the 30-year rate went up to seven-point-zero-eight percent this week. That’s more than double what it was this time last year. It comes as the Federal Reserve has been hiking interest rates in a bid to fight soaring inflation this year. Another interest rate increase is expected next week.
