Long-term US mortgage rates up to 4.42%, highest since 2019

By MATT OTT
AP Business Writer

WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped again this week as the 30-year loan rate climbed to its highest level since January of 2019. The increase comes after the Federal last week increased the key rate _ which it had kept near zero since the pandemic recession struck two years ago _ by more than a quarter point. The central bank has signaled potentially up to seven additional rate hikes this year. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year loan this week jumped to 4.42% from 4.16% last week. They’ve risen more than a half-point in two weeks.