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Mortgage Rates Beat 4% for First Time Since 2019

U.S. long-term mortgage rates have eclipsed 4% for the first time in almost three years. So reports CNN.

Freddie Mac 300x300According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 4.16% in the week ending March 17, up 31 basis points from the prior week.

“The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year," said Freddie Mac chief economist Sam Khater.

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