Long-term US mortgage rates hit 3.92%, highest since 2019

KIFI

Published February 10, 2022 8:01 AM

By MATT OTT
AP Business Writer

WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped again this week, approaching levels not seen since 2019. The average rate on a 30-year loan reached 3.92%, up from 3.69% the previous week, mortgage buyer Freddie Mac reported Thursday. The last time the 30-year rate was higher was in May of 2019 when it reached 3.99%. Consumer prices are up 7.5% and home prices have risen twice that in the past year. With housing in short supply, higher prices and rising interest rates will make it even harder for house hunters to secure a new home.

Article Topic Follows: AP National Business

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