{"id":14114,"date":"2018-09-24T13:38:32","date_gmt":"2018-09-24T13:38:32","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=14114"},"modified":"2018-09-24T13:38:34","modified_gmt":"2018-09-24T13:38:34","slug":"30-year-mortgage-rates-reach-highest-level-since-may","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/30-year-mortgage-rates-reach-highest-level-since-may\/","title":{"rendered":"30-Year Mortgage Rates Reach Highest Level Since May"},"content":{"rendered":"

30-Year Mortgage Rates Reach Highest Level Since May<\/h1>\n
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30-Year Mortgage Rates Reach Highest Level Since May<\/p><\/div>\n

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For the fourth consecutive week, mortgage rates continued to climb as home buyers face higher borrowing costs.<\/p>\n

\u201cMortgage rates are drifting upwards again and represent continued affordability challenges for prospective buyers\u2014especially first-time buyers,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cBorrowing costs are moving right now for three main reasons: the very strong economy, higher U.S. government debt issuances, and global trade tensions.\u201d<\/p>\n

Khater says despite the uptick in rates, mortgage applications for home purchases have managed to increase on an annual basis for five consecutive weeks. \u201cHowever, given the widespread damage caused by Hurricane Florence in the Carolinas, the next few months of housing activity will likely be somewhat volatile,\u201d he adds.<\/p>\n

Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 20:<\/p>\n