30-year mortgage rate tops 4% for first time since July

mortgage rate

mortgage rateBy Prashant Gopal | BloombergBusiness

U.S. mortgage rates rose, with the 30-year average topping 4 percent for the first time in five months, after the Federal Reserve’s decision to increase its benchmark lending rate.

The average rate for a 30-year fixed mortgage was 4.01 percent, up from from 3.96 percent last week, Freddie Mac said in a statement Thursday. The average 15-year rate climbed to 3.24 percent from 3.22 percent, according to the McLean, Virginia-based mortgage-finance company.

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