Friday, 9 March 2018

US mortgage rates climb to 4-year high.

FILE- In this Monday, Feb. 26, 2018, file photo, sold signs are displayed in front of a new development in Woodcliff Lake, N.J. Freddie Mac reports on the week's average U.S. mortgage rates on Thursday, March 8. (AP Photo/Seth Wenig, File)
WASHINGTON (AP) -- Long-term U.S. mortgage rates climbed this week to their highest average in more than four years, ratcheting up affordability pressures at the start of the traditional spring home buying season.

Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year fixed-rate mortgages climbed to 4.46 percent this week from 4.43 percent last week. This marks the highest average since January 2014. The 30-year rate averaged 4.21 percent a year ago.

The average rate on 15-year, fixed-rate loans rose to 3.94 percent from 3.90 percent last week.



By Josh Boak.

Full story at Yahoo News.

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