Current Mortgage Rates Hit 5% for the First Time in a Decade

Current Mortgage Rates Hit 5% for the First Time in a Decade

Industry Update
April 14, 2022

Source:  SFGate

The average interest rate on a 30-year fixed-rate mortgage has climbed to 5% for the first time in more than 10 years, according to Freddie Mac.

The rate increased 0.28 percentage points from last week and marks the first time the 30-year rate hit 5% since February 2011, when it averaged 5.05%.

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