Mortgage Rates Top 6% for the First Time Since the 2008 Financial Crisis

Mortgage rates rose above 6% this week, their highest level since 2008, shocking homebuyers who last year were paying less than half.

The average rate for a 30-year fixed mortgage rose to 6.02% this week, from 5.89% last week and 2.86% a year ago, according to a survey of lenders released Thursday by the mortgage giant. Freddie Mac. The last time rates were this high was at the height of the financial crisis nearly 14 years ago, when the United States was in the midst of a recession.

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