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August 12, 2022

Mortgage rate jumps back over 5%

WASHINGTON (AP) — Average long-term U.S. mortgage rates soared this week in a continued volatile market as the key 30-year loan rate jumped back over 5%.

Mortgage buyer Freddie Mac reports that the 30-year rate rose to 5.22% from 4.99% last week. The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, increased to 4.59% from 4.26%.


 
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