{"id":1713620,"date":"2022-10-27T13:35:27","date_gmt":"2022-10-27T17:35:27","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1713620"},"modified":"2022-10-27T13:36:14","modified_gmt":"2022-10-27T17:36:14","slug":"mortgage-rates-skyrocket-to-20-year-high","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mortgage-rates-skyrocket-to-20-year-high\/","title":{"rendered":"Mortgage Rates Skyrocket To 20-Year High"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmortgage-rates-skyrocket-to-20-year-high%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1713620&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>As the Federal Reserve struggles to tamp down record-high inflation, mortgage rates this week rose above 7 percent for the first time since April 2002.<\/p>\n<p>Rates have more than doubled compared with a year ago, the <em>Wall Street Journal<\/em> <a href=\"https:\/\/www.wsj.com\/articles\/u-s-mortgage-rates-hit-7-08-highest-in-more-than-20-years-11666879204\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.wsj.com\/articles\/u-s-mortgage-rates-hit-7-08-highest-in-more-than-20-years-11666879204&#038;source=gmail&#038;ust=1666971738509000&#038;usg=AOvVaw1HI0rn01ygPbPm8duVfgjG\">reported<\/a>:<\/p>\n<p dir=\"ltr\"><em>The rate on a 30-year fixed mortgage averaged 7.08% this week, according to a survey of lenders by mortgage giant <a href=\"https:\/\/www.wsj.com\/market-data\/quotes\/FMCC\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.wsj.com\/market-data\/quotes\/FMCC&#038;source=gmail&#038;ust=1666971738509000&#038;usg=AOvVaw2-kQJJKV-dPweFf6M16Kal\">Freddie Mac<\/a>. Just seven weeks ago, <a href=\"https:\/\/www.wsj.com\/articles\/mortgage-rates-hit-5-89-highest-level-since-2008-11662646125?mod=article_inline\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.wsj.com\/articles\/mortgage-rates-hit-5-89-highest-level-since-2008-11662646125?mod%3Darticle_inline&#038;source=gmail&#038;ust=1666971738509000&#038;usg=AOvVaw0MrPcSxMdUd6AWwVAnuXUt\">the rate was below 6%<\/a>. A year ago it was just over 3%.<\/em><\/p>\n<p dir=\"ltr\"><em>The last time mortgage rates were this high, the dot-com bubble had recently burst. Rates were on the way down. They were in the middle of a four-decade stretch in which they mostly fell, underpinning the growth of the modern mortgage market and boosting the rate of homeownership.<\/em><\/p>\n<p dir=\"ltr\"><em>Interest rates reversed sharply this year, pushed up by the Federal Reserve\u2019s <a href=\"https:\/\/www.wsj.com\/articles\/fed-set-to-raise-rates-by-0-75-point-and-debate-size-of-future-hikes-11666356757?mod=article_inline\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.wsj.com\/articles\/fed-set-to-raise-rates-by-0-75-point-and-debate-size-of-future-hikes-11666356757?mod%3Darticle_inline&#038;source=gmail&#038;ust=1666971738509000&#038;usg=AOvVaw1gPgpQ9nbmks-8Zzc54df_\">aggressive rate increases meant to curb inflation<\/a>. The monthly cost of borrowing to buy a home has surged because of the additional interest buyers must pay at higher rates. That is on top of a <a href=\"https:\/\/www.wsj.com\/articles\/the-pandemic-ignited-a-housing-boombut-its-different-from-the-last-one-11615824558?mod=article_inline\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.wsj.com\/articles\/the-pandemic-ignited-a-housing-boombut-its-different-from-the-last-one-11615824558?mod%3Darticle_inline&#038;source=gmail&#038;ust=1666971738509000&#038;usg=AOvVaw37EKrnS0I9apih6j1fhgHS\">pandemic housing boom<\/a> that pushed prices up sharply.<\/em><\/p>\n<p>The news comes as voters list the economy and inflation as their top issues heading into elections. Twenty-nine percent of Americans say inflation is the &#8220;most important problem&#8221; facing the nation, according to the <a href=\"https:\/\/graphics.reuters.com\/USA-ELECTION\/ECONOMY-POLL\/akvezdbzrpr\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/graphics.reuters.com\/USA-ELECTION\/ECONOMY-POLL\/akvezdbzrpr\/&#038;source=gmail&#038;ust=1666971738509000&#038;usg=AOvVaw3h0ICZMO-EqWqzyxCUwAmi\">latest<\/a> polling from Reuters, while 15 percent listed jobs and the economy. The third-highest issue was gun violence, with just 8 percent of respondents selecting it.<\/p>\n<p>This week, <a href=\"https:\/\/freebeacon.com\/latest-news\/report-inflation-worries-depressing-us-consumer-confidence\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/latest-news\/report-inflation-worries-depressing-us-consumer-confidence\/&#038;source=gmail&#038;ust=1666971738509000&#038;usg=AOvVaw1O-xWabTalMB7MSlywuU9p\">consumer confidence fell<\/a> for the first time in two months but more consumers planned to buy homes despite rising rates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the Federal Reserve struggles to tamp down record-high inflation, mortgage rates this week rose above 7 percent for the first time since April 2002.<br \/>\nThe post Mortgage Rates Skyrocket To 20-Year High appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":1467,"featured_media":1713623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1713620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1713620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1467"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1713620"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1713620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1713623"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1713620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1713620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1713620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}