Tag Archives: expensive

Purchase mortgages cross dreaded 5% threshold Combined with inflation and high home prices, it’s the “most expensive” market in a generation

The 5% threshold has been crossed, and given all the headwinds in the U.S. economy, it doesn’t appear that mortgage rates will be dropping below that mark anytime soon. Purchase mortgages this week averaged 5%, up 28 basis points from 4.72% a week ago, according to the latest Freddie Mac PMMS. A year ago at this time, rates were at […]