For the first time since the housing crash more than a decade ago, mortgage rates have exceeded 6 percent, rising alongside the Federal Reserve’s inflation-busting tightening efforts.  
The 30-year fixed-rate mortgage averaged 6.02 percent for the week ending on Sept. 15, according to the new Freddie Mac Primary Mortgage Market Survey (PMMS), up from 5.89 percent the previous week and 2.86 percent the same week in 2021. This represents the highest mortgage rate since the housing crash of 2008.
And, while there are signs that property prices are falling, home price levels remain significantly high compared to last year. Consequently, the monthly mortgage payment has increased considerably over the past year….