The healthy state of the economy has resulted in mortgage rates rising to their highest level in ten months.
On Thursday, Freddie Mac reported 4.15 percent with an average 0.5 point as the average for a 30-year mortgage, the highest that long-term rates have been since March 2017, but not as high as rates were a year ago at this time when they were averaging 4.19 percent.
"The 10-year Treasury yield reached its highest point since 2014 reflecting expectations of broad-based economic growth," Freddie Mac deputy economist Len Kiefer said in a release. "Mortgage rates, in turn, followed the surge in Treasury yields."
The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.
This article originally published at https://dc.urbanturf.com/articles/blog/long-term-mortgage-rates-rise-to-highest-level-since-march-2017/13491.
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