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U.S. Mortgage Rates Soar, Reaching Highest Since Late 2018

Average 30-year rate jumps to 4.67%, with 5% mark in sight
Borrowing costs post largest three-month gain since 1987

Mortgage rates are up more than a percentage point in the past two months. — Mortgage rates are up more than a percentage point in the past two months.
Photographer: Jacob Kepler/Bloomberg

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By Jo Constantz

March 31, 2022 at 2:00 PM UTC

Updated on

March 31, 2022 at 3:47 PM UTC

This article is for subscribers only.

Mortgage rates in the U.S. continued their steep ascent, reaching a level not seen since December 2018.

The average for a 30-year loan was 4.67%, up from 4.42% last week, Freddie Mac said in a statement Thursday.