February 22, 2018 / 3:17 PM / a month ago

U.S. 30-year mortgage rates rise seventh straight week: Freddie Mac

NEW YORK (Reuters) - U.S. 30-year mortgage rates increased for a seventh consecutive week to a near four-year peak in step with U.S. bond yields on concerns about rising inflation and further rate hikes from the Federal Reserve, Freddie Mac (FMCC.PK) said on Thursday.

    The borrowing cost on 30-year mortgages, the most widely held type of U.S. home loan, averaged 4.40 percent in the week ended on Feb. 22, the highest level since April 2014. Last week, 30-year home loan rates had averaged 4.38 percent, the mortgage finance agency said.

    Reporting by Richard LeongEditing by Chizu Nomiyama

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