Average long-term U.S. mortgage rates rose again this week as the key 30-year loan rate vaulted over 4.5% and attained its highest level since the end of 2018.
A sold sign is shown in front of a home, Monday, Sept. 20, 2021, in Surfside, Fla. Average long-term U.S. mortgage rates rose this week as the key 30-year loan vaulted over 4% for the first time since May 2019. Mortgage buyer Freddie Mac reports, Thursday, March 17, 2022, that the average rate on the 30-year loan this week jumped to 4.16% from 3.85% last week. –
The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes, jumped to 3.83% from 3.63% last week.Home prices are up about 15% over the past year and as much as 30% in some cities. Homes available for sale have been in short supply even before the pandemic started two years ago. Now higher prices and rising loan rates will make it even harder for would-be buyers as the spring homebuying season gets underway.
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