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News for: ClickOnDetroit | WDIV Local 4
Showing 1 - 3 of 3 results
Oct 15, 2026 9:01 AM — Mortgage Rates
Average long-term US mortgage rate holds at 7.4%, remaining at highest level in nearly 3 years
ClickOnDetroit | WDIV Local 4
The average 30-year fixed mortgage rate held at 7.40%, its highest level in nearly three years, while the 15-year rate edged down to 6.71%. Higher oil prices, inflation concerns, and volatility in bond markets have driven rates upward, weighing on home sales and mortgage applications. More borrowers are turning to adjustable-rate mortgages, and analysts expect rates to remain elevated as markets a... more
Oct 9, 2026 8:27 AM — Mortgage Rates
Mortgage rates hit 7.49% — what it means for buyers, sellers and renters
ClickOnDetroit | WDIV Local 4
The housing market is currently challenging for buyers, sellers, and renters, as the 30-year fixed mortgage rate has risen to 7.49%, the highest in nearly three years. Following a period of pandemic lows at 2.65%, mortgage rates climbed sharply due to inflation and Federal Reserve actions. In October 2023, rates exceeded 8% for the first time since 2000. This situation is straining buyers with hig... more
Oct 9, 2026 8:27 AM — Mortgage Rates
Mortgage rates hit 7.49% — what it means for buyers, sellers and renters
ClickOnDetroit | WDIV Local 4
The housing market is currently challenging for buyers, sellers, and renters as the 30-year fixed mortgage rate recently reached 7.49%, the highest in nearly three years. Following a period of record-low rates during the pandemic, the rapid increase in mortgage rates has been driven by inflation and actions taken by the Federal Reserve. As rates rose above 8% for the first time since 2000, high pr... more
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