Current mortgage rates are up but they are still fairly low at the same time the price of a house is at an all-time high. The last time the rates were as high as they are today was back in 2008. Mortgage applications are down. They ticked up slightly in August when rates went down but are down by more than 20% from this time last year.
*updated 9/15/2022 Mortgage interest rates at 6.2% the highest since 2008.
