Dreams Of Affordability Crushed As Rates Rise Again
Mortgage rates spiked again last week, contributing to housing becoming less affordable than before the bubble burst in the 2000s. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.23%, up from 7.09%. A year ago at this time, the 30-year FRM averaged 5.55%. The 15-year fixed-rate mortgage also increased to 6.55%…