Mortgage rates jump to nearly 4%
CNN
Mortgage rates increased again, rising to a level not seen since summer 2019.
The 30-year fixed-rate mortgage averaged 3.92% in the week ending February 17, up from 3.69% the week before, according to Freddie Mac. It has not been this high since May 2019 when it was at 3.99%.
Mortgage rates jumped again because of high inflation and stronger than expected consumer spending, said Sam Khater, Freddie Mac's chief economist.
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
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