U.S. 30-year mortgage rates hit seven-year peak: Freddie Mac
(Worthy News) – Interest rates on U.S. 30-year fixed-rate mortgages increased to their highest levels in more than seven years in line with bond yields which rose on the view of sturdy economic growth and heavy debt supply, data from Freddie Mac showed on Thursday.
Thirty-year mortgage rates averaged 4.72 percent in the week ended Sept. 27, up from 4.65 percent the week before and the highest since 4.78 percent in week of April 28, 2011, the U.S. mortgage finance agency said.
On Tuesday, the benchmark 10-year Treasury yield touched 3.113 percent, the highest level in four months. [ Source: Reuters (Read More…) ]
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