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Mortgage Rates Top 7% For First Time In 20 Years

View Source | October 27, 2022 1:53 pm

  • Mortgage rates rose again this week, topping 7% for the first time since 2002.
  • The 30-year fixed-rate mortgage averaged 7.08% in the week ending October 27, up from 6.94% the week before, according to Freddie Mac.
  • A year ago, the 30-year fixed rate stood at 3.14%.
  • The last time the average rate surpassed 7% was in April 2002.
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