Mort­gage rates hit 7-year high

The News-Times - - BUSINESS -

Long-term U.S. mort­gage rates leaped this week to their high­est lev­els in seven years amid global anx­i­ety over ris­ing in­ter­est rates that has gripped fi­nan­cial mar­kets. Costs for wouldbe home­buy­ers are climb­ing. Mort­gage buyer Fred­die Mac says the rate on

30-year, fixed-rate mort­gages jumped to an aver­age

4.90 per­cent this week from

4.71 per­cent last week. That’s the high­est level for the bench­mark since 2011.

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