Mortgage rates close in on 8% with no relief in sight
By: Mortgage rates increased again last week, closing in on 8% and convincing many homebuyers to give up on the market for now.The average 30-year mortgage rate jumped to 7.79% from 7.63% the previous week, according to Freddie Mac on Thursday. The average borrowing rate has remained above 7% for 11 straight weeks and has…