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US mortgage rate at 15-year high
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@cravis
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Photo by Precondo CA on Unsplash
Just this Thursday, the US mortgage rate has hit a 15-year high with the 30-year fixed rate at 6.7% as expectations mount up for the Fed's aggressive and hawkish stance.
To give more perspective, the rate has more than double over the past year with the tightening monetary policy.
With this, the housing purchase frenzy seen during the pandemic is now experiencing a slowdown as the world enters the new norm.
Not the best news for homeowners who are still repaying their loans, such as myself.. Oh boy...
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