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Mortgage rates soar to their highest level in 21 years (www.cnn.com)

submitted 1 year ago by deconstruct@lemmy.world to c/personalfinance@lemmy.ml

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The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before. Rates have been above 6.5% since the end of May and climbing higher since mid-July. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002 when it was 7.13%.

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[–] guyrocket@kbin.social 1 points 1 year ago (1 children)

So glad I got 2.5% on my 30 year fixed a couple of years ago when I refi'd.

I NEVER thought I would see a rate that low. I am still amazed at it.

[–] 0110010001100010@kbin.social 1 points 1 year ago

2.75 on a 20 year when I refinanced in...2020 I think. You can bet your ass I have zero plans to sell. I would like some more land but not right now.