Today’s mortgage and refinance rates: April 15, 2022 | Average rate hits 5% for the first time since 2011

The average 30-year fixed mortgage rate hit 5% this week, the first time it’s been this high in over a decade, according to Freddie Mac.

Rates are expected to remain elevated as the Federal Reserve works to tame inflation, which reached a 40-year high in March. In its April forecast, the Mortgage Bankers Association predicted rates would end 2022 at an average of 4.8%. READ MORE


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