Skip to Content

Average US long-term mortgage rates rise; 30-year at 5.55%

KION

WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week as inflation worries remained at the fore and the slowdown in economic growth weighs on the housing market. Mortgage buyer Freddie Mac reports that the 30-year rate increased to 5.55% from 5.13% last week. The average rate on 15-year, fixed-rate mortgages jumped to 4.85% from 4.55% last week. Inflation worries are top of mind as Federal Reserve officials meet this week at their annual symposium in Wyoming to discuss global economic challenges. In a drive to tame historically high inflation, the Fed has embarked on its fastest series of interest rate hikes since the early 1980s.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KION 46 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content