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US mortgage rates hit highest level since 2007

MADRID, 29 Sep.

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US mortgage rates hit highest level since 2007

MADRID, 29 Sep. (EUROPA PRESS) -

Average interest rates on 30-year mortgages in the United States reached their highest level this week since 2007, just before the real estate and financial crisis, according to data released this Thursday by the financial firm Freddie Mac.

The interest on mortgages with a 30-year maturity and a fixed rate registered an average rate of 6.7% this week, which represents an increase of nine tenths compared to last week. Just a year ago, the registered rate was less than half, 3.01%.

"The uncertainty and volatility in financial markets is seriously impacting mortgage rates," said Freddie Mac chief economist Sam Khater. That the rate has doubled in a year, according to the expert, means a difference of "several hundred dollars" for the mortgaged party.

In addition to the increase in 30-year mortgage rates, 15-year mortgages have also accelerated their growth. This week they have stood at 5.96%, which represents an increase of 1.3 points compared to last week. A year ago, the rate for this maturity was 2.28%.

In the second quarter of 2022, median home sales prices in the United States reached $440,300, an increase of 36.5% compared to the second quarter of 2020, when the Covid-19 crisis began .