Long-term US mortgage rates see biggest one-week jump in 35 years
by Associated Press from Economics | The Guardian on (#60EAB)
Rate for 30-year mortgage climbed from 5.23% to 5.78% this week, the highest since November of 2008 during the housing crisis
Average long-term US mortgage rates had their biggest one-week jump in 35 years with the Federal Reserve this week raising its key rate by three-quarters of a point in an effort to tame high inflation.
Mortgage buyer Freddie Mac reported on Thursday that the 30-year rate climbed from 5.23% last week to 5.78% this week, the highest its been since November of 2008 during the housing crisis.
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