Mortgage interest rates approach five percent in latest week

PORTLAND, OR, Nov. 8, 2018 (RISI) -Freddie Mac released the results of its Primary Mortgage Market Survey, showing that mortgage rates rose significantly across the board.

Sam Khater, Freddie Mac’s chief economist, says, “The economy continued to show resilience as strong business activity and growth in employment drove the 30-year fixed mortgage rate to a seven year high of 4.94% – up 11 basis points from last week.”

Added Khater, “Higher mortgage rates have led to a slowdown in national home price growth, but the price deceleration has been primarily concentrated in affluent coastal markets such as California and the state of ...

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