Mortgage Rates Reach Their Highest Level in Nearly 13 Years
According to data provided by Freddie Mac, the 30-year fixed-rate average rose to 5.27 percent with an average 0.9 points, which is the fee paid to a lender equal to 1 percent of the loan amount. Only one week ago, the 30-year fixed-rate average was at 5.1 percent, and it was 2.96 percent just one year ago. Additionally, the 15-year fixed-rate average increased to 4.52 percent, rising from 4.4 percent last week, and 2.3 percent last year. The five-year adjustable rate average grew to 3.96 percent, having risen from 3.78 percent a week ago, and just 2.7 percent a year ago.
Learn more at the Washington Post: “Mortgage Rates Spike to Their Highest Level in Nearly 13 Years”