30-Year Fixed Mortgage Rates Spike Past 5 Percent
The average rate for the 30-year fixed mortgage just crossed the 5% threshold, now at 5.02%, according to CNBC. This time last year, they stood at 3.38%.
The average rate for the 30-year fixed mortgage just crossed the 5% threshold, now at 5.02%, according to CNBC. This time last year, they stood at 3.38%.
With interest rates rising to cool off inflation, the COVID-19 era of high demand for mortgage refinancing is tapering off.
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