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January 14, 2022

Mortgage rate jumps to 3.45%

SILVER SPRING, Md. (AP) — Average long-term U.S. mortgage rates jumped again this past week, reaching their highest level since March 2020, just as the coronavirus pandemic was breaking in the U.S.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year home loan rose to 3.45% this week from 3.22% last week. It was at 3.5% in late March of 2020 when the pandemic was just starting. A year ago, the 30-year rate stood at 2.79%.


 
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