The rate for a 30-year fixed-rate mortgage averaged 7.03% this week, up from last week when it averaged 6.94%. A year ago, the 30-year rate was 6.79%. The rate for a 15-year fixed-rate mortgage averaged 6.36%, up from last week when it averaged 6.24%. A year ago, the rate was 6.18%.
Fed’s Powell says some areas of U.S. may be ‘uninsurable’ in next decade
Powell said that insurance companies and banks are already "pulling out of coastal areas, areas where there are a lot of fires." He predicted that in "10 or 15 years there are going to be regions of the...