Long-term US mortgage rates hold this week at 3.55%

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — Average long-term U.S. mortgage rates were essentially flat this week after jumping nearly a half percent the past two weeks in anticipation of the Federal Reserve announcement of pending rate increases. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year loan ticked down to 3.55% from 3.56% last week. It stood at 2.73% a year ago. Though they remain historically low, home loan rates have been rising to levels not seen since early 2020, when the coronavirus pandemic was breaking in the U.S.