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Historically low rates were nice while they lasted.

In another hit to prospective homebuyers, the average 30-year fixed mortgage rate hit 4.42% this week, up 1.31 percentage points from three months ago, according to Freddie Mac.

That’s the largest 12-week jump since 1994. It’s a dramatic shift from the average 3.22% rate at the beginning of this year, and the record low of 2.65% in January 2021.