Wed, Feb 9th, 2022 - 8:27am
January 19, 2022 - 9:21am | By Kyle Cornell
(Washington, DC) -- Homebuyers are rushing to get mortgages before higher interest rates price them out of the market.
The Mortgage Bankers Association reports applications for loans to buy homes jumped eight-percent last week as interest rates rose to the highest level in almost two years.
The national average interest rate for a 30-year fixed-rate mortgage shot up 12 basis points, to three-point-64 percent. That helped drive down refinance applications by three-percent.