US Mortgage Rates Rise; 30-Year at 5.27%, Highest Since 2009

The average rate on 15-year, fixed-rate mortgages jumped to 4.52% from 4.4% last week.

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FILE This is a home sold in Mount Lebanon, Pa., on Tuesday, Sept. 21, 2021. Average long-term U.S. mortgage rates resumed their ascent this week, Thursday, May 5, 2022, as the key 30-year loan reached its highest point since 2009. (AP Photo/Gene J. Puskar)
Image via AP Photo/Gene J. Puskar

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

WASHINGTON (AP) — Average long-term U.S. mortgage rates resumed their ascent this week, as the key 30-year loan reached its highest point since 2009. The increases came in the week preceding the widely anticipated action by the Federal Reserve to intensify its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point and signaling further large rate hikes to come. The Fed’s move, its most aggressive since…

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