Mortgage Rates for 30-Year Loans Rise to Highest in Five Months
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Mortgage rates for 30-year U.S. loans rose above 4 percent for the first time in almost five months, increasing borrowing costs as fewer homeowners sought to refinance.
The average rate for a 30-year mortgage increased to 4.08 percent in the week ended today, from 3.92 percent, Freddie Mac said in a statement. The rate was the highest since Oct. 27, when it hit 4.1 percent. The average 15-year rate climbed to 3.3 percent from 3.16 percent, according to the McLean, Virginia-based mortgage-finance company.