{"id":592541,"date":"2023-09-28T23:51:40","date_gmt":"2023-09-28T20:51:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/home-borrowing-costs-hit-23-year-high\/"},"modified":"2023-09-28T23:51:40","modified_gmt":"2023-09-28T20:51:40","slug":"home-borrowing-costs-hit-23-year-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/home-borrowing-costs-hit-23-year-high\/","title":{"rendered":"#Home borrowing costs hit 23-year high\u00a0"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/08\/AP23053069072494-e1692392388343.jpg?w=900\" \/><\/p>\n<div>\n<p>Home mortgage rates have reached the highest figure since 2000, as the average borrowing rate for 30-year home loans topped 7.31 percent this week, mortgage buyer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/freddiemac.gcs-web.com\/news-releases\/news-release-details\/mortgage-rates-reach-highest-level-almost-23-years\">Freddie Mac said Thursday<\/a>.<\/p>\n<p>The new figure is a slight increase from last week\u2019s 7.19 percent. A year ago it was 6.70 percent. The rate continues to climb, in part due to federal efforts to ease inflation in other parts of the economy. <\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>The rate for 15-year loans is not much better, sitting at 6.72 percent, up from 5.96 percent a year ago, Freddie Mac said.<\/p>\n<p>\u201cThe 30-year fixed-rate mortgage has hit the highest level since the year 2000,\u201d said Freddie Mac chief economist Sam Khater. \u201cHowever, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. These headwinds are causing both buyers and sellers to hold out for better circumstances.\u201d<\/p>\n<p>High borrowing rates means that fewer people can afford to purchase homes, while sellers are also reluctant as the prices on a new home continue to increase.<\/p>\n<p>The rate has continued to rise in line with the 10-year treasury yield rate, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly used to benchmark loans. The yield has climbed largely as a result of the Federal Reserve\u2019s decision to keep interest rates high in an effort to curb inflation.<\/p>\n<p>The Fed has signaled that it will keep the interest rate high into next year in an effort to slow inflation, but not raise it further than its current 22-year high rate of 5.5 percent.<\/p>\n<\/div>\n<p>Copyright 2023 Nexstar <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a> Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/business\/4228579-home-borrowing-costs-hit-23-year-high\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home mortgage rates have reached the highest figure since 2000, as the average borrowing rate for 30-year home loans topped 7.31 percent this week, mortgage buyer Freddie Mac said Thursday. The new figure is a slight increase from last week\u2019s 7.19 percent. A year ago it was 6.70 percent. The rate continues to climb, in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":592542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/08\/AP23053069072494-e1692392388343.jpg?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134344,73798,73014,90482,70552,126555,143551,71226],"class_list":["post-592541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-administration","tag-defense","tag-health-care","tag-house","tag-interest-rates","tag-mortgage","tag-race-politics","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/592541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=592541"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/592541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/592542"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=592541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=592541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=592541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}