Tag Archives: Mortgage Rates Climb to Highest Level in Year

Fixed-rate mortgages soared higher this week, reaching their highest averages in a year, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage — the most popular choice among home buyers — has climbed nearly half a percentage point since the beginning of this month — from 3.35 percent to 3.81 percent this week. “Fixed mortgage rates followed long-term government bond yields higher, following a growing market sentiment that the Federal Reserve may lessen its accommodative policy stance,” says Frank Nothaft, Freddie Mac’s chief economist. “Improving economic […]