Mortgage rates jump again, buyers sideline
WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped ahead of next week’s Federal Reserve meeting, where it is expected to announce another increase in its main lending rate.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.23% this week from 5.09% last week. A year ago at this time, the average rate was 2.96%. Until April, the average rate had not exceeded 5% for more than a decade.