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American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

Money

Mortgage rates rise as inflation concerns push yields higher

A2D News Desk

Freddie Mac’s average rate for a 30-year fixed mortgage rose to 6.66% for the week ending Thursday, while the average 15-year mortgage rate climbed above 6% for the first time since January 2025.

Rising Middle East tensions and higher oil prices raised concerns about inflation, pushing Treasury yields higher. The 10-year Treasury note hovered between 4.6% and 4.7%, helping pull mortgage rates up.

Most housing economists expect rates to end the year averaging about 6.4%, below their current level. Freddie Mac’s weekly average reflects rates offered to borrowers with strong credit and a 20% down payment.

Read the full story at money.com.

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