Mortgage rates near 8%, rising for the sixth week in a row

‘It’s important that borrowers shop around with multiple lenders for the best mortgage rate,’ Freddie Mac says

Mortgage rates rose for the sixth week in a row amid worries over another potential interest-rate hike by the U.S. Federal Reserve.

Freddie Mac’s weekly report on mortgage rates is based on thousands of applications received from lenders across the country that are submitted to Freddie Mac when a borrower applies for a mortgage. “In this environment, it’s important that borrowers shop around with multiple lenders for the best mortgage rate,” he added.

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