Long-term US mortgage rates hit 3.69%, highest in 2 years

By MATT OTT
AP Business Writer

WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped last week to their highest level in more than two years, potentially pushing some homebuyers out of the market as consumers get squeezed by higher costs for just about everything. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year loan jumped nearly a quarter point to 3.69% last week.  A year ago, the long-term rate was 2.73%. Although it’s still historically low, the average rate for a 30-year mortgage hasn’t been this high since the first week of January 2020 when it was 3.72%.