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U.S. 30-year mortgage rate hits highest in 16 months - Freddie Mac
December 1, 2016 / 3:36 PM / in a year

U.S. 30-year mortgage rate hits highest in 16 months - Freddie Mac

NEW YORK, Dec 1 (Reuters) - The average interest rate on U.S. 30-year fixed-rate mortgages rose to its highest levels in more than 16 months with the ongoing rise in Treasury yields, mortgage finance agency Freddie Mac said on Thursday.

The borrowing cost on 30-year mortgages, the most widely held type of U.S. home loan, averaged 4.08 percent in the week ended Dec. 1, which was the highest since 4.09 percent in the week of July 16, 2015. Last week, the 30-year mortgage rates averaged 4.03 percent, it said. (Reporting by Richard Leong; Editing by Chizu Nomiyama)

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