U.S. Mortgage Rates Increase as Fed Prepares Boost

Mortgage rates for 30-year loans rose to the highest since October after Federal Reserve Chair Janet Yellen reiterated plans to increase borrowing costs this year and the likelihood of a Greek exit from the euro region faded.

The average rate for a 30-year fixed mortgage was 4.09 percent, up from 4.04 percent last week, Freddie Mac said in a statement Thursday. The average 15-year rate climbed to 3.25 percent from 3.2 percent, according to the McLean, Virginia-based mortgage-finance company.