US mortgage rates hit their highest level in three years
- Rising borrowing costs have pushed mortgage applications to lowest level since February 2025.
- Mortgage rates in the United States have hit their highest level in nearly three years, as cost-of-living concerns weigh on Americans less than a month before the midterm elections.
- The average cost for a 30-year fixed-rate mortgage jumped 19 basis points to 7.49 percent for the week ending October 2 , according to the Mortgage Bankers Association’s weekly report released on Wednesday.
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- Rising borrowing costs have pushed mortgage applications to lowest level since February 2025.
- Mortgage rates in the United States have hit their highest level in nearly three years, as cost-of-living concerns weigh on Americans less than a month before the midterm elections.
- The average cost for a 30-year fixed-rate mortgage jumped 19 basis points to 7.49 percent for the week ending October 2 , according to the Mortgage Bankers Association’s weekly report released on Wednesday.
Sources: Al Jazeera