Mortgage Rates Rise, With Monthly Payments Up Around 30 Percent From Last Year

Mortgage Rates Rise, With Monthly Payments Up Around 30 Percent From Last Year
A for sale sign is displayed in front of a house in Washington on March 14, 2022. Stefani Reynolds/AFP via Getty Images
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Average long-term U.S. mortgage rates continue to climb again this week, with interest rates for key 30-year mortgage loans hitting their highest level since 2009, according to Freddie Mac on May 12.

The news adds more financial strain on potential home buyers, as the competitive spring and summer markets heat up.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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