Mortgage rates up as Fed readies its inflation fight
Mortgage rates rose this week as the Federal Reserve prepares to raise its main borrowing rate to battle unnerving inflation hikes. The average rate on a 30-year loan hit 3.85%, up from 3.76% last week, mortgage buyer Freddie Mac reported Thursday. A year ago, the long-term rate was 3.05%. The average rate on 15-year, fixed-rate…
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