Mortgage rates move higher

Bankrate pegs benchmark 30-year loan at 4.18%.

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Mortgage rates inched higher, rising for a seventh consecutive week, with the benchmark 30-year fixed mortgage rate rising to 4.18%, according to Bankrate.com’s weekly national survey released Thursday. The 30-year fixed mortgage has an average of 0.21 discount and origination points.

The larger jumbo 30-year fixed inched to 4.18%, while the average 15-year fixed mortgage rate climbed upward to 3.42%. Adjustable mortgage rates were mostly unchanged, with the 5-year ARM remaining at 3.45% and the 7-year ARM holding steady at 3.69%.

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December 16, 2016

Bankrate, higher, mortgage rates

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