US mortgage rates rise to highest level in more than 2 years

AP News
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Posted: Dec 22, 2016 10:48 AM

Long-term U.S. mortgage rates shot up this week to the highest levels in more than two years. Investors are bidding up rates because they believe the incoming Trump administration will drive inflation and economic growth higher with tax cuts and increased government spending. Long-term mortgage rates have risen eight straight weeks.

Current avg Last week 52-week high 52-week low
30-year fixed 4.30 percent 4.16 percent 4.30 percent 3.41 percent
15-year fixed 3.52 percent 3.37 percent 3.52 percent 2.72 percent
5-year adjustable 3.32 percent 3.19 percent 3.32 percent 2.68 percent