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Mortgage Rates Surge to Highest Since May 2019

Friday, Feb 18 2022
Lending
Written by  The Mortgage Leader

Long-term U.S. mortgage rates have soared, another kind of price increase for home buyers already facing inflation. So reports The Washington Post.

arrows 311332 640 smallAccording to Freddie Mac, the 30-year fixed-rate averaged 3.92% in the week ending February 17, the highest since May 2019.

“Mortgage rates jumped again due to high inflation and stronger-than-expected consumer spending,” Sam Khater, Freddie Mac’s chief economist, said in a statement.

Read the full article from The Washington Post.

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