FILE- In this June 8, 2018, file photo a for sale sign stands in front of a house, in Jenkintown, Pa. On Thursday, Sept. 20, Freddie Mac reports on the week’s average U.S. mortgage rates. (AP Photo/Matt Rourke, FIle)

Average US mortgage rates rise; 30-year at 4.65 percent

September 20, 2018 - 7:14 am

WASHINGTON (AP) — Long-term U.S. mortgage rates are up for the fourth consecutive week, with the key 30-year rate reaching its highest level since May.

Costs for would-be homebuyers continue to climb. Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages jumped to 4.65 percent, from 4.60 percent last week. The average rate has increased from 3.83 percent a year ago.

The average rate on 15-year, fixed-rate loans rose to 4.11 percent this week from 4.06 percent last week.