Fixed interest rates on residential loans turned sharply higher this past week. Short- and long-term forecasts have rates increasing even more.

Thirty-year fixed rates on home loans averaged 4.19 percent in Freddie Mac’s Primary Mortgage Market Survey for the week ended Jan. 26.

That was a 10-basis-point ascension compared to the previous week. In addition, long-term rates soared from 3.79 percent a year previous.

Source: Mortgage Daily