Long-term US mortgage rates hit 3.92%, highest since 2019

Average long-term U.S. mortgage rates jumped again last week, approaching levels not seen since 2019

WASHINGTON -- Average long-term U.S. mortgage rates jumped again last week, approaching levels not seen since 2019.

The average rate on a 30-year loan rose last week to 3.92% from 3.69% the previous week, mortgage buyer Freddie Mac reported Thursday. A year ago, the long-term rate was 2.81%.

The last time the 30-year rate was higher was in May of 2019 when it reached 3.99%.

The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes, rose to 3.15% from 2.93% one week earlier. It stood at 2.21% a year ago. It last breached 3% in March of 2020, just at the pandemic was breaking in the U.S.