WASHINGTON (CNN) — Mortgage rates jumped again, surpassing the 6% mark and reaching the highest level since the fall of 2008. “Mortgage rates continued to rise alongside hotter-than-expected inflation numbers this week, exceeding 6% for the first time since late 2008,” he said. After starting the year at 3.22%, mortgage rates rose sharply during the first half of the year, climbing to nearly 6% in mid-June. Mortgage rates tend to track yields on 10-year US Treasury bonds. As investors see or anticipate rate hikes, they often sell government bonds, which sends yields higher and with it, mortgage rates.

Source: CNN September 16, 2022 14:48 UTC