WASHINGTON (AP) – Long-term U.S. mortgage rates are up for the fourth consecutive week, with the key 30-year rate reaching its highest level since May.
Costs for would-be homebuyers continue to climb. Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages jumped to 4.65 percent, from 4.60 percent last week. The average rate has increased from 3.83 percent a year ago.
The average rate on 15-year, fixed-rate loans rose to 4.11 percent this week from 4.06 percent last week.
