By Canadian Press

Long-term US mortgage rise for fourth straight week

Feb 1, 2018 | 8:30 AM

WASHINGTON — Long-term U.S. mortgage rates rose for the fourth straight week. The rates on 15-year, fixed-rate mortgages and five-year adjustable-rate mortgages hit the highest level since 2011.

Mortgage giant Freddie Mac says the rate on 30-year, fixed-rate mortgages averaged 4.22 per cent this week, highest since March and up from 4.15 per cent a week earlier. They stood at 4.19 a year ago. The rate on 15-year, fixed-rate loans, popular among homeowners who refinance, rose to 3.68 per cent this week, highest since July 2011 and up from 3.62 per cent last week and 3.41 per cent a year ago.

The five-year, adjustable rate rose to 3.53 per cent from 3.52 per cent last week and the highest since April 2011.

Paul Wiseman, The Associated Press

Young minds, big ideas: Elementary students learn about urban planning with 'Box City'

2h ago

HERE'S WHAT TO KNOW

Summer pool hours extended and discounts applied as Big Marble Go Centre upgrades start

Apr 18, 2024

Medicine Hat company drawing in clients with witty signage

Apr 16, 2024