US 30-year mortgage rates rise to highest in over 2 years

NEW YORK: Interest rates on US 30-year fixed-rate mortgages extended their recent rise with bond yields, reaching levels not seen in more than two years, mortgage finance agency Freddie Mac said on Thursday.

The borrowing cost on 30-year mortgages, the most widely held type of US home loan, averaged 4.16 percent in the week ended Dec. 15, the highest since 4.19 percent in the week of Oct. 2, 2014. Last week, 30-year mortgage rates averaged 4.13 percent, Freddie Mac said.