Pursuits
U.S. 30-Year Mortgage Rates Rise to Highest Since March
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Blame Mario Draghi, the Italian economist who heads the European Central Bank, for this month’s jump in U.S. mortgage rates. His success in cloning an American strategy to spur economic growth is keeping European investors at home.
The average U.S. rate for a 30-year fixed mortgage was 3.85 percent this week, up from 3.8 percent last week and the highest since mid-March, Freddie Mac said in a statement Thursday. The average 15-year rate climbed to 3.07 percent from 3.02 percent, the McLean, Virginia-based mortgage-finance company said.