Economics
U.S. Mortgage Rates Rise as Fed Plans to Taper Stimulus
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U.S. mortgage rates rose, increasing borrowing costs for homebuyers as the Federal Reserve said it will scale back bond purchases that have supported the real estate market.
The average rate for a 30-year fixed mortgage was 4.47 percent this week, up from 4.42 percent, according to a statement today from Freddie Mac. The average 15-year rate rose to 3.51 percent from 3.43 percent, the McLean, Virginia-based mortgage-finance company said.