Mortgage Rates Rise Again

This is a news story, published by CNBC, that relates primarily to The Federal Reserve news.

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rate mortgages

CNBC

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Weekly mortgage demand tanks 11% as interest rates surge higher

Summary

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75% Informative

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances — $ 766,550 or less — increased to 6.81% from 6.73% .

Applications for a mortgage to purchase a home decreased 5% for the week .

Applications to refinance a home loan, which are most sensitive to weekly rate moves, fell 19% .

The Federal Reserve will announce its latest rate decision on Thursday .

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Informative language

Neutral language

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formal

Language

English

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Offensive language