US 30-year fixed mortgage rate hits highest in nearly three years
The jump in the key US 30-year fixed-rate mortgage increases borrowing costs and worsens housing affordability ahead of the upcoming elections.
The interest rate on the most common US home loan rose last week to its highest level in almost three years, further squeezing affordability for buyers four weeks before elections that will decide whether President Donald Trump's Republicans keep control of Congress. The average 30-year fixed-rate mortg…