Mortgage Rates Hit Highest Level Since 2009

(CNN) — Mortgage rates rose this week, continuing an upward trend that has pushed rates more than two percentage points higher this year.
The 30-year fixed-rate mortgage averaged 5.27% in the week ending May 5, up from 5.10% the week before, according to Freddie Mac. It is the highest since 2009 and well above the 2.96% average from this time last year.
“Mortgage rates resumed their climb this week as the 30-year fixed reached its highest point since 2009,” said Sam Khater, Fre