US mortgage rates grew by 6% due to inflation for the first time since the housing crash of 2008

The 30-year rate grew by 6.02% from 5.89% last week and the long-term average rate doubled since 2021 and is the highest since November 2008.
The average rate on 15-year, fixed-rate mortgages grew by 5.21% from 5.16%, and last year at this time the rate was 2.19%.
It is influenced by a variety of factors, including investors' anticipations for future inflation and global demand for US Treasurys, recently, the 10-year Treasury rate grew by 3.45% due to rapid inflation and strong US economic growth.
The gas prices relapsed significantly since early in the summer, and prices for most other necessities increased, which panicked investors who fear a possible recession.

Image: The World Economic Forum

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