30-year fixed mortgage rates rise after six weeks of declines
The average 30-year fixed mortgage rate rose to 6.42%, nearly double from a year prior, while the 15-year fixed mortgage rate remains relatively unchanged week over week.
Video Transcript
JARED BLIKRE: The average 30-year fixed mortgage rate rising to 6.42% from 6.27%, it's the first increase after six weeks of declines. Now the 30-year is nearly double what it was a year ago. And the 15-year rate is roughly unchanged from last week. High rates have been deterring buyers. Yesterday, only yesterday, we learned spending-- or pending home sales, they slid 4% in November and down 37.8% year over year.
