The graph below is a visual demonstration provided by Freddie Mac, one of the two major government-sponsored mortgage financing companies. It shows us that 30-year mortgage rates have rose to their highest level in nearly two years, increasing from 3.40% to 4.51% in a time span of just three months. While the average rate for a 30-year loan has climbed to 4.51%, the average mortgage rate for a 15-year fixed loan hit 3.53% according to the data.
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