US long-term mortgage rates jump; 30-year at 4.62 percent

This May 25, 2018, photo shows a home for sale in Rutherford, N.J. On Thursday, June 7, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Ted Shaffrey, File)

WASHINGTON — Long-term U.S. mortgage rates jumped this week after two straight weeks of declines, reaching their second-highest level this year.

Long-term loan rates have been running at their highest levels in seven years. And the Federal Reserve on Wednesday raised its benchmark interest rate for the second time this year and signaled that it may step up its pace of rate increases.

Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages was 4.62 percent, up from 4.54 percent last week. By contrast, the 30-year rate averaged 3.91 percent a year ago.

The average rate on 15-year, fixed-rate loans increased to 4.07 percent from 4.01 percent last week.

Must Read

Colbert to air live after Trump-Clinton...

Aug 10, 2016

Stephen Colbert, who capitalized on the political conventions with live broadcasts, will do the...

Prince Fielder emotional as he ends career after...

Aug 11, 2016

Prince Fielder says it will be tough not be able to play again after having to walk away from the...

US: 45,000 Islamic State fighters taken off...

Aug 11, 2016

A top U.S. commander says that the military campaigns against the Islamic State group in Iraq and...

Ecuador to set date for Assange to be questioned...

Aug 12, 2016

Ecuador said Thursday it's ready to set a date for Swedish prosecutors to question Julian Assange...

Experts say white supremacists see Trump as 'last...

Aug 11, 2016

Legal and civil rights experts say Republican presidential candidate Donald Trump's campaign is...

Sign up now!

About Us

In The Headline sought to bring professionalism back into journalism, bringing you only the most exclusive and the most impactive news from all over the globe.

Contact us: sales[at]intheheadline.com