Mortgage Rates Slip to 5.13%

Mortgage Rates Slip to 5.13%
·1 min read

Mortgage rates inched down this week but remained near multiyear highs. The 30-year fixed mortgage rate averaged 5.13%, down from 5.22% last week and 5.81% in June, which was the highest rate since 2008, according to a survey by Freddie Mac. Elevated mortgage rates, along with fast-rising home prices, have cast a chill over the U.S. housing market because they are forcing prospective buyers to budget hundreds of extra dollars, or more, in monthly costs.