Weekly fixed interest rates on residential loans escalated to the highest level since 2016. The outlook for next week’s report is a further ascension.

In its Mortgage Offers Report, LendingTree.com said 30-year fixed rates offered by its lender network for loans used to finance a home purchase had an average annual percentage rate of 4.55 percent in January.

That was substantially higher than one month previous, when the average APR was 4.42 percent. It was also the highest rate since March 2016, when APRs averaged 4.45 percent.

Source: Mortgage Daily