The average 30-year fixed rate mortgage topped 6%, jolting would-be home buyers. BenEisen explains. WSJWhatsNow
Economists have long said that renting and investing in the stock market is a better investment than owning a house, and in 2022 that could be especially true. WSJ’s Dion Rabouin explains. Photo illustration: Elizabeth SmelovMortgage rates topped 6% this week, their highest level since 2008, giving a jolt to home buyers who last year were paying less than half that.
The average rate on a 30-year fixed mortgage climbed to 6.02% this week, up from 5.89% last week and 2.86% a year ago, according to a survey of lenders released Thursday by mortgage giant Freddie Mac . The last time rates were this high was in the heart of the financial crisis almost 14 years ago, when the U.S.
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