Fixed mortgage rates ascended to the highest level since last year. Worse yet, they are likely to move even higher in next week’s report.

Freddie Mac reported in its Primary Mortgage Market Survey for the week ended March 9 that 30-year fixed rates averaged 4.21 percent.

In addition to rising 11 basis points from last week, the 30 year is at its highest level since it was 4.32 percent in the week ended Dec. 29, 2016.

Source: Mortgage Daily