Mortgage rates jump as tariffs hit markets; biggest spike in nearly a year

Mortgage rates jump as tariffs hit markets; biggest spike in nearly a year
shot of a couple of similar looking vacation houses by Paul Kapischka is licensed under Unsplash unsplash.com

Average rate on the benchmark 30-year fixed mortgage climbed to 6.83%: Freddie Mac.

Mortgage rates spiked this week, mortgage buyer Freddie Mac said Thursday, as President Donald Trump's tariffs led to instability in the bond market.

Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage increased to 6.83% from last week's reading of 6.62%. 

The average rate on a 30-year loan was 7.1% a year ago.

shot of a couple of similar looking vacation houses by Paul Kapischka is licensed under Unsplash unsplash.com

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