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Mortgage Rates Rise Again, Edging Toward 5%

Friday, Apr 08 2022
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have posted another weekly increase, ratcheting once again toward 5%. So reports CNN.

arrow 156792 640smallAccording to Freddie Mac, the average on the 30-year fixed-rate mortgage was 4.72% in the week ending April 7, an increase of five basis points.

Freddie Mac chief economist Sam Khater noted that the increase of 1.5 percentage points over the last three months is the fastest three-month jump since May 1994.

Read the full article from CNN.

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