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Mortgage Rates Hit Highest Level Since May 2020

Sunday, Jan 09 2022
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have rung in the new year in style, with a key benchmark climbing higher than at any point in 2021. So reports CNN.

arrow 2790272 640 150x150According to Freddie Mac, the average for the 30-year fixed-rate mortgage was 3.22% in the week ending January 6, up from 3.11% the previous week and a record-low 2.65% a year earlier.

Freddie Mac economist Sam Khater said in a statement, “Mortgage rates increased during the first week of 2022 to the highest level since May 2020 and are more than half a percent higher than January 2021.”

Read the full article from CNN. 

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