Economy News
U.S. mortgage interest rates reach 6.25%, highest level since October 2008

The average interest rate on the most popular U.S. home loan climbed to its highest level since October 2008, Mortgage Bankers Association (MBA) data showed on Wednesday. Rising mortgage rates are increasingly weighing on the interest-rate-sensitive housing sector as the Federal Reserve pushes on with aggressively lifting borrowing costs in order to tame high inflation. The central bank is set to raise interest rates by three-quarters of a percentage point for a third straight time later on Wednesday.

News Source:- https://www.reuters.com/article/usa-economy-mortgages/u-s-mortgage-interest-rates-reach-6-25-highest-level-since-october-2008-idUSN9N2F8000