AP Radio AP Radio News:

Dec 8, 10:09 AM EST

US 30-year average mortgage rate rises to 4.13 percent


Latest News
US 30-year average mortgage rate rises to 4.13 percent

US mortgage rates continue post-election surge

WASHINGTON (AP) -- Long-term U.S. mortgage rates climbed for the sixth straight week in the aftermath of Donald Trump's election win, marking new highs for the year.

Mortgage giant Freddie Mac says the average rate on a 30-year fixed rate loan jumped this week to 4.13 percent from 4.08 percent the previous week. The benchmark rate surpassed its 3.95 percent level of a year ago.

The rate on 15-year home loans, a popular choice for people who are refinancing, rose to 3.36 percent from 3.34 percent.

Long-term mortgage and interest rates have surged in the five weeks since Trump's surprise victory on Nov. 9 to become the country's next president.

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.



Latest News