Long-term rates on residential loans climbed to the highest level in seven years. More of the same could be in store for the week ahead. Veterans loans had the lowest rates.

Ellie Mae Inc. reported in its Origination Insight Report | April 2018 that 30-year note rates averaged 4.79 percent on home loans closed during April.

Mortgage rates escalated 10 basis points compared to one month earlier. A 38-basis-point ascension was recorded versus the same month one year earlier.

Source: Mortgage Daily