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    Mortgage rates surge past 7%, hit highest level since 2002

    Home mortgage rates have surged past 7%, hitting the highest level in more than 20 years and dealing another blow to Americans trying to break into the housing market. The average rate on the popular 30-year fixed mortgage was 7.09% this week, up from 6.96% last week and the highest since 2002, according to data released Thursday from mortgage giant Freddie Mac. One month ago rates were at ...
    by Andrew Khouri, Los Angeles Times Aug 17, 2023 1 minute
    An aerial view of workers constructing new homes in Irvine, California, on Aug. 9, 2021.

    Home mortgage rates have surged past 7%, hitting the highest level in more than 20 years and dealing another blow to Americans trying to break into the housing market.

    The average rate on the popular 30-year fixed mortgage was

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