Mortgage rates climb again, jumping to more than 5.5%
CNN
Mortgage rates jumped higher this week as investors tried to make sense of data that gave mixed signals about the health of the US economy.
The 30-year fixed-rate mortgage averaged 5.55% in the week ending August 25, up from 5.13% the week before, according to Freddie Mac. That is significantly higher than this time last year when it was 2.87%.
After starting the year at 3.22%, mortgage rates rose sharply during the first half of the year, hitting a high of 5.81% in mid-June. But since then, concerns about the economy and the Federal Reserve's mission to combat inflation have made them more volatile.
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