Posted 10/12/2023, 5:00:00 PM
Mortgage Rates Continue Climbing, Hitting Highest Levels Since Early 2000s
- Mortgage rates rose for 5th week in a row, keeping average 30-year rate at highest since 2000
- Borrowing costs increased on 15-year fixed mortgages as well
- High rates add hundreds in costs for buyers, limiting affordability
- Average rate now more than double what it was 2 years ago
- First time rates have been 6%+ for a 12-month period since early 2000s
- Elevated rates and low inventory have kept home prices near record highs
