{"id":1642,"date":"2023-10-16T21:16:56","date_gmt":"2023-10-16T21:16:56","guid":{"rendered":"https:\/\/connectwithfund.com\/economy\/u-s-30-year-mortgage-rates-rise-to-7-57-the-fifth-straight-week-of-increases\/"},"modified":"2023-10-16T21:16:56","modified_gmt":"2023-10-16T21:16:56","slug":"u-s-30-year-mortgage-rates-rise-to-7-57-the-fifth-straight-week-of-increases","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=1642","title":{"rendered":"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases"},"content":{"rendered":"
\n

Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing conflict in Israel and Gaza.<\/p>\n

The 30-year fixed-rate mortgage averaged 7.57% as of Oct. 12, according to data released by Freddie Mac
\n FMCC,
\n +3.42%<\/bg-quote>
\n on Thursday.\u00a0<\/p>\n

\n

It\u2019s up 8 basis points from the previous week \u2014 one basis point is equal to one hundredth of a percentage point. Rates continue to be at their highest level since December 2000.<\/p>\n

A year ago, the 30-year rate was averaging 6.92%.<\/p>\n

The average rate on the 15-year mortgage was 6.89%, up from 6.78% last week. The 15-year was at 6.09% a year ago.<\/p>\n

Freddie Mac\u2019s weekly report on mortgage rates is based on thousands of applications received from lenders across the country that are submitted to Freddie Mac when a borrower applies for a mortgage.\u00a0<\/p>\n

Separate data by Mortgage News Daily said that the 30-year fixed-rate mortgage was averaging 7.6% as of Thursday afternoon.<\/p>\n

What Freddie Mac said: <\/strong>\u201cMortgage rates rose as ongoing market and geopolitical uncertainty continues to increase,\u201d Sam Khater, chief economist at Freddie Mac, said in a statement.<\/p>\n

\u201cThe good news is that the economy and incomes continue to grow at a solid pace, but the housing market remains fraught with significant affordability constraints,\u201d\u00a0 he said. \u201cAs a result, purchase demand remains at a three-decade low.\u201d<\/p>\n

What are economists saying? <\/strong>\u201cWe\u2019re entering a new cycle where, when rates do begin to come down, they will settle at a new normal that is higher than we have had in years,\u201d Lisa Sturtevant, chief economist at Bright MLS, told MarketWatch.\u00a0<\/p>\n

\u201cBeginning with the financial collapse in 2008, the average rate on a 30-year fixed-rate mortgage has been below 5%. Before then, average rates were more typically in the 6% range, and it is likely that is where we will end up when the dust settles,\u201d she said.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing conflict in Israel and Gaza. The 30-year fixed-rate mortgage averaged 7.57% as of Oct. 12, according to data released by Freddie Mac FMCC, +3.42% on Thursday.\u00a0 It\u2019s up 8 basis points from the previous week \u2014 one basis point is equal to one hundredth of a percentage point. Rates continue to be at their highest level since December 2000. A year ago, the 30-year rate was averaging 6.92%. The average rate on<\/p>\n","protected":false},"author":1,"featured_media":539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[],"class_list":["post-1642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"\nU.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/connectwithfund.com\/?p=1642\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases | ConnectWithFund\" \/>\n<meta property=\"og:description\" content=\"Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/connectwithfund.com\/?p=1642\" \/>\n<meta property=\"og:site_name\" content=\"ConnectWithFund\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-16T21:16:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/connectwithfund.com\/wp-content\/uploads\/2023\/10\/1697200826_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/connectwithfund.com\/?p=1642\",\"url\":\"https:\/\/connectwithfund.com\/?p=1642\",\"name\":\"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases | ConnectWithFund\",\"isPartOf\":{\"@id\":\"https:\/\/connectwithfund.com\/#website\"},\"datePublished\":\"2023-10-16T21:16:56+00:00\",\"dateModified\":\"2023-10-16T21:16:56+00:00\",\"author\":{\"@id\":\"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52\"},\"description\":\"Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing\",\"breadcrumb\":{\"@id\":\"https:\/\/connectwithfund.com\/?p=1642#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/connectwithfund.com\/?p=1642\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/connectwithfund.com\/?p=1642#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/connectwithfund.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/connectwithfund.com\/#website\",\"url\":\"https:\/\/connectwithfund.com\/\",\"name\":\"FinMarkPros\",\"description\":\"Latest Finance News and Updates\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/connectwithfund.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/connectwithfund.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/connectwithfund.com\"],\"url\":\"https:\/\/connectwithfund.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases | ConnectWithFund","description":"Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/connectwithfund.com\/?p=1642","og_locale":"en_US","og_type":"article","og_title":"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases | ConnectWithFund","og_description":"Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing","og_url":"https:\/\/connectwithfund.com\/?p=1642","og_site_name":"ConnectWithFund","article_published_time":"2023-10-16T21:16:56+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/connectwithfund.com\/wp-content\/uploads\/2023\/10\/1697200826_social.jpeg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/connectwithfund.com\/?p=1642","url":"https:\/\/connectwithfund.com\/?p=1642","name":"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases | ConnectWithFund","isPartOf":{"@id":"https:\/\/connectwithfund.com\/#website"},"datePublished":"2023-10-16T21:16:56+00:00","dateModified":"2023-10-16T21:16:56+00:00","author":{"@id":"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52"},"description":"Mortgage rates rose for the fifth week in a row amid concerns over whether the U.S. Federal Reserve will hike interest rates, as well as over the ongoing","breadcrumb":{"@id":"https:\/\/connectwithfund.com\/?p=1642#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/connectwithfund.com\/?p=1642"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/connectwithfund.com\/?p=1642#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/connectwithfund.com\/"},{"@type":"ListItem","position":2,"name":"U.S. 30-year mortgage rates rise to 7.57%, the fifth straight week of increases"}]},{"@type":"WebSite","@id":"https:\/\/connectwithfund.com\/#website","url":"https:\/\/connectwithfund.com\/","name":"FinMarkPros","description":"Latest Finance News and Updates","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/connectwithfund.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/connectwithfund.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/connectwithfund.com"],"url":"https:\/\/connectwithfund.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts\/1642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1642"}],"version-history":[{"count":1,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts\/1642\/revisions"}],"predecessor-version":[{"id":1643,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts\/1642\/revisions\/1643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/media\/539"}],"wp:attachment":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}