Interest Rates Climbing
Rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said yesterday.
The average rate for a 30-year fixed mortgage was 5.59 percent this week, up from 5.29 percent last week, Freddie Mac said. The last time the average 30-year fixed-rate mortgage was higher was the week ended Nov. 26 of last year, when it averaged 5.97 percent.
