30-YEAR MORTGAGE RISES TO 4.08 PERCENT

Long-term U.S. mortgage rates marked a fifth week of surges in the aftermath of Donald Trump’s election win, reaching their highest levels this year.

Mortgage giant Freddie Mac said Thursday the average rate on a 30year fixed rate loan rose to 4.08 percent from 4.03 percent the previous week. The benchmark rate topped its 3.93 percent level of a year ago.

The rate on 15-year home loans, a popular choice for people who are refinancing, jumped to 3.34 percent from 3.25 percent.

Long-term mortgage and interest rates have climbed in the four weeks since Trump’s surprise victory on Nov. 8.