Rates Rise Again in U.S.

According to Freddie Mac’s latest Primary Mortgage Market Survey, U.S. mortgage rates in early August 2018 jumped to their fourth highest level of the year.

Sam Khater, Freddie Mac’s chief economist, says the 30-year fixed-rate mortgage drifted up for the second consecutive week to 4.60 percent. “The higher rate environment, coupled with the ongoing lack of affordable inventory, has led to a drag on existing-home sales in the last few months,” he said.

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Source: World Property Journal