Average long-term U.S. mortgage hits highest level in nearly 3 years
Summary
The average long-term mortgage rate in the U.S. rose to 7.28%, the highest it has been in almost three years. This marks the sixth week in a row that mortgage rates have gone up, with a notable increase from last week's 7.03%.Key Facts
- The 30-year fixed mortgage rate reached 7.28% this week.
- This is the highest mortgage rate in nearly three years.
- Last week’s average rate was 7.03%.
- Mortgage rates have risen six weeks in a row.
- A year ago, the average rate was 6.34%.
- The increase from last week to this week is the largest jump in four years.
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