Mortgage rates have reached their highest level in a year. 58 percent the previous week. This increase is attributed to rising oil prices and persistent inflation.

The recent surge in mortgage rates is a notable change from just a few months ago, when rates briefly dropped below 6 percent. Further details on the current state of mortgage rates and their impact on the housing market are available from the source. Residents in El Paso can find more information on the current mortgage rates and how they may affect the local housing market by consulting the original report.