US mortgage rates surged this week to their highest level in 21 years. Newly constructed homes in Queen Creek, Arizona, are pictured here on June 5.
Mandatory Credit: Rebecca Noble/Bloomberg/Getty Images
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Mortgage rates soar to their highest level in 21 years
US mortgage rates surged this week, rising to their highest level in 21 years. The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 5.13%.
