Going up?

“Look, Sally, it’s the Carter Express!”

30-year mortgage rate rises to 5.9%, highest since 2008

Freddie Mac said Thursday that its latest Primary Mortgage Market Survey shows the average rate for the benchmark 30-year fixed mortgage rose again this week to 5.89%, up from last week's reading of 5.66%.

At this time last year, 30-year fixed-rate products averaged 2.88%.

The rate for a 15-year fixed note also surged, averaging 5.16% after coming in at 4.98% last week. That is more than double the average rate at this time last year when 15-year products were at 2.19%.