(KRON) — Potential Bay Area homebuyers should brace for the bite! The average U.S mortgage rate climbed this week to its highest level in the past 12 months.
A 30-year fixed rate mortgage rate rose to 6.58% from 6.55% last week. That’s according to mortgage buyer Freddie Mac. One year ago, the average rate was 6.74%.
Mortgage rates are influenced by several factors including the Federal Reserve’s interest rate policy decisions and inflation…