Mortgage rates surge to 2-year high, 30-year at 3.69%
Mortgage rates surge to 2-year high, 30-year at 3.69%
Mortgage rates in the U.S. jumped to the highest level since January 2020, before the pandemic rocked financial markets.
The average for a 30-year loan was 3.69%, up from 3.55% last week, Freddie Mac said in a statement Thursday. That was the highest since Jan. 2, 2020, when rates averaged 3.72%.
Borrowing costs resumed their upward climb after holding relatively steady for about a month. They…