Mortgage rates hit one-year high; 30-year fixed averages 6.71%
Freddie Mac said the 30-year fixed mortgage rate averaged 6.71% this week, up from 6.66% the week prior. Rates are at the highest level in over a year.
By Nicholas G.
MillerMortgage rates rose to their highest level in over a year as tremors in the bond market threatened to push up borrowing costs for consumers.The 30-year fixed rate averaged 6.71% this week, up from 6.66% the week prior, according to Freddie Mac.
That is up from 6.23% in April, a…