Average long-term US mortgage rate nears 7%, highest in five weeks Read more: https://business.inquirer.net/454372/average-long-term-us-mortgage-rate-nears-7-highest-in-five-weeks#ixzz8XCdVHd9g Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

LOS ANGELES — The average long-term U.S. mortgage rate rose to its highest level in five weeks, a setback for prospective homebuyers during what’s traditionally the busiest time of the year for home sales. The average rate on a 30-year mortgage rose to 6.88 percent from 6.82 percent last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.27 percent.   To continue reading the rest of the article, please click on the source link below: https://business.inquirer.net/454372/average-long-term-us-mortgage-rate-nears-7-highest-in-five-weeks