Long-term US mortgage rates hit highest levels since 2014

Long-term US mortgage rates hit highest levels since 2014 Long-term US mortgage rates climbed again this week, hitting the highest levels since 2014. Mortgage giant Freddie Mac said Thursday that the rate on 30-year fixed-rate loans jumped to an average 4.30 percent from 4.16 percent last week and the highest since April 2014. Rates have surged since the Nov. 8 election of Donald Trump. Investors have bid rates higher because they believe the president-elect's plans for tax cuts and higher infrastructure spending will drive up economic growth and inflation. If you have been putting off refinancing your home mortgage or waiting to buy a home, I strongly suggest you do both sooner, rather than later since we are expecting 3 more interest rates hikes this year.