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The average long-term US mortgage rate surges to 7.49%, its highest level since December 2000
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File - A sign announces newly built homes in Sudbury, Ma., on March 12, 2023. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. - photo by AP Photo/Peter Morgan, File
LOS ANGELES (AP) — The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers. The average rate on the benchmark 30-year home loan rose to 7.49% from 7.31% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.66%.