US mortgage interest rates rise above 6% for first time since 2008

US mortgage interest rates increased above 6% for the first time since 2008, Mortgage Bankers Association (MBA) data showed on Wednesday. The average contract rate on a 30-year fixed-rate mortgage increased by seven basis points to 6.01% for the week ending September 9. MBA added its Market Composite Index (MCI) declined 1.2% from a week earlier.