Mortgage rates are highest in a year

Mortgage interest rates have risen half of a percentage point from record lows.

Mortgage rates have hit their highest level in more than a year, making homes more expensive for buyers who finance their purchases.

The rate on a 30-year fixed-rate mortgage jumped 0.22 percentage point to 3.81% this week, according to Freddie Mac. That’s up 15% from the record low of 3.31% set the week of November 21, 2012 and the highest rate since it hit 3.83% the week of May 10, 2012. The 30-year rate was as low as 3.35% in early May…..read more

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