Mortgage Rates Up Slightly As Fed Signals Hikes In 2022

SILVER SPRING, Md. (AP) — The average interest rate on a long-term mortgage in the U.S. ticked up slightly this week but remain historically low just as the Federal Reserve announces that it will begin tightening credit.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year, fixed rate home loan was up this week to 3.12% from 3.10% last week.

On Wednesday, the Federal Reserve announced as expected that it would begin dialing back its monthly bond purchases.

That could raise borrowing costs, but even with three rate increases next year, its benchmark rate would still be historically low, below 1%.

Korie has worked in the broadcast industry for more than 20 years. She has a news producing background dating back to 1996, with positions at WCSH-6 in Portland, Maine, WMUR-TV in Manchester and the Executive Producer for NH1. She returns to Binnie Media as the News Director for News Talk Radio. Korie and Jack have similar backgrounds in the industry, and currently Co-Host Good Morning NH with Jack Heath. Korie lives in Salem and loves spending time at the beach, the gym, watching the NFL and dining out with family and friends.