US average 30-year mortgage rate rises to 4.16 percent

Markets Associated Press

This Wednesday, Dec. 7, 2016, photo shows a house for sale, in Miami. Long-term U.S. mortgage rates climbed for the seventh straight week following Donald Trump's election victory, again marking new highs for the year, according to information ... released Thursday, Dec. 15, 2016, by Freddie Mac. (AP Photo/Alan Diaz) (The Associated Press)

Long-term U.S. mortgage rates climbed for the seventh straight week following Donald Trump's election victory, again 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 rose this week to 4.16 percent from 4.13 percent the previous week. The benchmark rate is well above its 3.97 percent level of a year ago.

The rate on 15-year home loans, a popular choice for people who are refinancing, ticked up to 3.37 percent from 3.36 percent.

Long-term mortgage and interest rates have surged in the weeks since Trump's surprise victory in November.