U.S. Mortgage Rates Jump to 5.27%, Highest Since 2009

Higher borrowing costs are pushing buyers out of the market
Freddie Mac economist expects home-price gains to slow soon

Homes in Discovery Bay, California. — Homes in Discovery Bay, California.
Photographer: David Paul Morris/Bloomberg

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By Christine Maurus

May 5, 2022 at 10:00 AM EDT

Updated on

May 5, 2022 at 10:42 AM EDT

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Mortgage rates in the U.S. resumed their upward climb, reaching the highest level since August 2009.

The average for a 30-year loan jumped to 5.27% from 5.10% last week, Freddie Mac said in a statement Thursday.

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Before it’s here, it’s on the Bloomberg Terminal