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U.S. Mortgage Rates Jump to More Than 2-Year High After Fed Hike

Bloomberg business news

Mortgage Applications Rose 2.5% Last Week

U.S. mortgage rates rose, with the 30-year reaching the highest level since April 2014, after the Federal Reserve increased its benchmark lending rate.

The average rate for a 30-year fixed mortgage was 4.3 percent, up from 4.16 percent last week, Freddie Mac said in a statement Thursday. The average 15-year rate climbed to 3.52 percent, the highest since January 2014, from 3.37 percent, the McLean, Virginia-based mortgage-finance company said.