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Mortgage Rates Climb for Third Week, Topping 3.5%

Friday, Jan 21 2022
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have notched their consecutive weekly increase, returning to their highest since the start of the pandemic. So reports CNN.

Arrow up entrepreneur 1340649 640According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 3.56% in the week ending January 20, up 11 basis points from the previous week and the highest since 3.65% in March 2020.

Sam Khater, Freddie Mac's chief economist, noted that the rate increase arrived as financial markets braced for the Federal Reserve’s expected efforts to curb inflation.

Read the full article from CNN.

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