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March 27, 2026

Average long-term mortgage rate leaps to 6.38 percent

By ALEX VEIGA
AP Business Writer

The average long-term U.S. mortgage rate climbed this week to its highest level in more than six months, driving up borrowing costs during what's typically the busiest time of the year for prospective homebuyers.

The benchmark 30-year fixed rate mortgage rate rose to 6.38% from 6.22% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.65%.


 
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