The average rate on a 30-year mortgage in the U.S. rose for the third week in a row, reaching its highest level in eight weeks.
The rate rose to 6.44% from 6.32% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.63%.
The last time the average rate was higher was on August 22, when it was 6.46%.
The average rate on a 30-year mortgage has been rising since reaching its lowest level in two years — 6.08% — three weeks ago. The rate remains well below the 7.22% it hit in May, its 2024 peak.
Mortgage rates have been climbing in recent weeks following a spate of encouraging reports on the U.S. economy, including a hotter-than-expected September jobs report and a snapshot of consumer prices.
“While we expect the long-run trend in mortgage rates to be downward, recent weeks have brought volatility,” said Ralph Mclaughlin, senior economist at Realtor.com.
Universal ups rivalry with Disney
Universal Orlando Resort will open its fourth theme park in central Florida just in time for Memorial Day next year, upping the competition against Disney in the theme park capital of the United States.
Universal Epic Universe will open to visitors on May 22 with themed areas based on Harry Potter, Super Nintendo and “How to Train Your Dragon,” as well as monster movie brands, Universal officials said Thursday.
“This is such a pivotal moment for our destination, and we’re thrilled to welcome guests to Epic Universe next year,” said Karen Irwin, president and chief operating officer of Universal Orlando Resort.
Tickets and vacation packages for the new theme park go on sale next week. At first, visitors with multi-day passes will be allowed to visit Universal Epic Universe on only one day due to its anticipated popularity.
