Mortgage Rates Nearly Doubled Since a Year Ago

Mortgage rates in the U.S. are nearly twice what they were a year ago this week, an ongoing sign of the Federal Reserve’s aggressive push to tamp down inflation by constricting the financial market to varying degrees.Freddie Mac said in a press release this week that 30-year fixed-rate mortgages “averaged 5.66 percent with an average 0.8 point as of September 1, 2022.”
That figure is “up from last week when it averaged 5.55 percent,” Freddie mac noted, while “a year ago …