• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»US Mortgage Rates Just Hit A Shocking New High
Business

US Mortgage Rates Just Hit A Shocking New High

October 5, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Home Sales Continue To Decline Nationwide
Share
Facebook Twitter LinkedIn Pinterest Email

Mortgage rates have risen to their highest point since December 2000 as housing continues to become increasingly unaffordable, according to Freddie Mac.

The average for the 30-year fixed rate mortgage climbed to 7.49% for the week of Oct. 5, the highest point since December 2000, and up from 7.31% last week, while the 15-year fixed rate mortgage rose from 6.72% to 6.78% in that same time frame, according to a press release from mortgage giant Freddie Mac. The rise comes as housing is becoming increasingly unaffordable, with the price of a home in August being roughly $421,000, up from $382,000 in January, while the number of homes being sold for the month was down 17.7% compared to the same point in 2022. (RELATED: Under Biden Bankruptcies Are Rising For The First Time In Over 13 Years. Here’s Why)

“Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” Sam Khater, chief economist at Freddie Mac, said in the press release. “Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation. Unsurprisingly, this is pulling back homebuyer demand.”

Mortgage demand is now at its lowest since 1995 as rates continues to skyrocket.

The average interest rate on 30-year mortgage just hit its highest since August 2000, at 7.88%.

Mortgage demand is even below the average levels seen in the 2008 crisis, as shown in red below.… pic.twitter.com/KzBH338xjK

— The Kobeissi Letter (@KobeissiLetter) October 5, 2023

As of Oct. 3, 10-year Treasury securities were being priced at 4.81%, up from around 1% when President Joe Biden first took office in January 2021, according to the Federal Reserve Bank of St. Louis. The rise in the price of Treasuries is also increasing the interest on the U.S. national debt, resulting in more Americans’ tax dollars going toward servicing debt.

See also  Ouch! Women's Doubles Team Disqualified After Girl Is Hit by Ball at French Open

The Federal Reserve has raised its federal funds rate 11 times since March 2022, bringing the rate to a range of 5.25% and 5.50%, driving up the price of Treasuries. The increases in the federal funds rate were put in place to combat inflation, which peaked at 9.1% in June 2022 but has remained elevated above the Fed’s 2% target, coming in at 3.7% in August.

Investors are betting that inflation could remain elevated for longer as the country enters a “high-pressure equilibrium,” indicating that the natural rate of inflation is higher than the typical 2%. A higher natural rate would encourage the Fed to keep rates higher for longer, which could sustain the high mortgage rates.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

high hit Mortgage rates Shocking
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

SCOTUS Deals Blow To Opioid-Profiteering Family

August 10, 2023

Don’t Swallow Boric Acid Vaginal Suppositories, What A TikToker Did

May 27, 2023

Dow Jones Hits Day’s Highs; Buffett Makes Big Bet Ahead Of Bank Earnings| Investor’s Business Daily

April 13, 2023

Bruce Springsteen Fanzine Shutting Down as Fans Can No Longer Afford $5,000 Concert Tickets

February 13, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Planning A Luxury Escape To Kerala

December 18, 2024

Oracle to use Ampere’s newest chips in its cloud offering

September 20, 2023

Mapping India’s Global Interests – and US Significance for New Delhi

January 21, 2025
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.