Mortgage Rate Jumping to More Than 5.5%

Mortgage rates jumped higher this week as investors tried to make sense of data that gave mixed signals about the health of the US economy.

The 30-year fixed-rate mortgage averaged 5.55% in the week ending August 25, up from 5.13% the week before, according to Freddie Mac. That is significantly higher than this time last year when it was 2.87%.

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