US 30-year mortgage rates highest since December

NEW YORK: US 30-year mortgage rates rose to their highest since late December in line with a spike in Treasury yields due to growing expectations the Federal Reserve will raise interest rates next week, according to mortgage finance agency Freddie Mac on Thursday.

The borrowing cost on 30-year mortgages, the most widely held type of US home loan, averaged 4.21 percent in the week ended March 9, which was the highest since 4.32 percent in the week ended Dec. 29 and was higher than 4.10 percent the previous week, it said.

Copyright Reuters, 2017