TOL - Long-term interest rates continue to go up rate-sensitive sectors continue to suffer

2023-03-09 12:11:54 ET

Long-term interest rates continued to go up and rate-sensitive sectors continued to suffer.

30-year fixed-rate mortgage averaged 6.73% for the week ending Mar. 9, up from last week when it averaged 6.65% and higher than 3.85% a year ago, according to the Freddie Mac Primary Mortgage Survey.

15-year fixed-rate mortgage averaged 5.95%, up from last week when it averaged 5.89% and from 3.09% a year ago.

"Mortgage rates continue their upward trajectory as the Federal Reserve signals a more aggressive stance on monetary policy," Chief Economist Sam Khater said.

"Overall, consumers are spending in sectors that are not interest rate sensitive, such as travel and dining out. However, rate-sensitive sectors, such as housing, continue to be adversely affected," Khater added.

Here is a look at the survey results:

For further details see: