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U.S mortgage rates soar to highest in more than 23 years

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U.S mortgage rates soar to highest in more than 23 years

© Reuters. FILE PHOTO: A"For Rent, For Sale" sign is seen outside of a home in Washington, U.S., July 7, 2022. REUTERS/Sarah Silbiger/File Photo

The 7.9% average contract rate for a 30-year fixed-rate mortgage during the week ended Oct. 20 was up 20 basis points from the prior week, the Mortgage Bankers Association said.

 

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