Interest rates on residential loans continued to rise, this time to the highest level in nearly four years. The outlook is for continued escalation over the next week.
Freddie Mac’s Primary Mortgage Market Survey for the seven days that finished on Feb. 15 had thirty-year fixed rates averaging 4.38 percent.
That was the highest fixed interest rate for 30-year mortgages since the week ended April 3, 2014, when long-term mortgage rates averaged 4.41 percent.
Source: Mortgage Daily