U.S. mortgage rates rose to their highest levels in a year as reports showed the housing market and economy strengthening, signaling to bond investors that the Federal Reserve may reduce efforts to push down borrowing costs.

The average rate for a 30-year fixed mortgage jumped to 3.81 percent in the week ended today, from 3.59 percent, McLean, Virginia-based Freddie Mac said in a statement. The average 15- year rate increased to 2.98 percent from 2.77 percent.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]