Mortgage rates hit 5%

istock.com/xijian MCLEAN, Va. — Freddie Mac‘s Primary Mortgage Market Survey, released Thursday, shows that the 30-year fixed-rate mortgage (FRM) averaged 5.00%. “This week, mortgage rates averaged 5% for the first time in over a decade,” said Sam Khater, Freddie Mac’s chief economist. “As Americans contend with historically high inflation, the combination of rising mortgage rates,…