Mortgage Rates Record Biggest Annual Increase in Four Decades

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Mortgage rates recorded their largest increase in any calendar year in 2022, a consequence of the Federal Reserve’s aggressive moves to calm inflation

Mortgage rates rose in the last week of 2022, capping off a year of increases that brought 2021’s pandemic-fueled housing boom to a halt.

The average rate on the standard 30-year fixed mortgage rose to 6.42% from 6.27% last week, according to a survey of lenders released Thursday by the mortgage-finance giant Freddie Mac . It was 3.11% at the same time last year.

 

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There goes the housing market, down the drain.

What goes up will come down.

The Fed Cost index: Yet CPI plus interest is not the figure they use for inflation. tt:lizpeek

it is very easy to clean the lint on your clothes👇😂

Government shouldn't have printed and spent so much money

All thanks to Biden.

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