U.S. Mortgage Rates Reach Six-Month High

Investing.com — U.S. mortgage rates rose to a new six-month high this week, which, along with high house prices, may further limit potential homebuyers, according to Freddie Mac (OTC:FMCC) on Thursday.

The average interest rate on the widely used 30-year fixed-rate mortgage increased to 6.93%, the highest rate since early July, Freddie Mac noted.

> “The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability,” said Sam Khater, Freddie Mac’s chief economist.

A year ago, during the same period, the average rate was 6.66%.

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