WASHINGTON – Long-term U.S. mortgage rates climbed for the sixth straight week in the aftermath of Donald Trump's election win, marking new highs for the year.
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Mortgage giant Freddie Mac says the average rate on a 30-year fixed rate loan jumped this week to 4.13 percent from 4.08 percent the previous week. The benchmark rate surpassed its 3.95 percent level of a year ago.
The rate on 15-year home loans, a popular choice for people who are refinancing, rose to 3.36 percent from 3.34 percent.
Long-term mortgage and interest rates have surged in the five weeks since Trump's surprise victory on Nov. 9 to become the country's next president.