The rate itself is nothing new; 5.78 is still lower than the average 30-yr fixed rate between 1972 and today (at least per https://www.bankrate.com/mortgages/historical-mortgage-rates... )-- and possibly since the beginning of mortgages.

But, the change in rates over the last 12 months -- a 97% increase from 2.93-- that is something new that the US market has never experienced before