Mortgage interest rates in the US have risen to 6.25%
Federal Reserve continues to aggressively raise borrowing costs to control high inflation
Interest rates have negative impact on the rate of interest of housing industry.
The central bank is expected to increase interest rates by 0.75% for the third consecutive time.
Rates increased due to anticipation of Fed Regulation.
The aggregate contract rate of interest for 30 year fixed rate mortgages increased to 6.25% from 6.01%.
MBA reported that the amount of mortgage loan application improved by 3.8%.