British Prime Minister Liz Truss resigned Thursday — bowing to the inevitable after a tumultuous, short-lived term in which her policies triggered turmoil in financial markets and a rebellion in her party that obliterated her authority.

Making a hastily scheduled statement outside her 10 Downing Street office, Truss acknowledged that “I cannot deliver the mandate on which I was elected by the Conservative Party.”

Hers is the third resignation by a Conservative prime minister in as many years and leaves a divided party seeking a leader who can unify its warring factions. Truss, who said she will remain in office for a few more days while that process unfolds, has been prime minister for just 45 days.

Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month.

Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week. Last year at this time, the rate was 3.09%.

The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, jumped to 6.23% from 6.09% last week. Last week it climbed over 6% for the first time since the housing market crash of 2008. One year ago, the 15-year rate was 2.33%

St. Thomas first opened its doors to female students on Sept. 7, 1977, making 2022 the 45th anniversary of co-education at St. Thomas.

Alex Lorah can be reached at palorah@stthomas.edu.