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The Independent UK
The Independent UK
National
Alex Veiga

The average long-term US mortgage rate surges to 7.49%, its highest level since December 2000

United States Freddie Mac the Federal Reserve US Federal Reserve
Copyright 2022 The Associated Press. All rights reserved

The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers.

The average rate on the benchmark 30-year home loan rose to 7.49% from 7.31% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.66%.

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