U.S. mortgage rates rose this week on stronger economic signs including job growth and consumer spending, Freddie Mac said Thursday.
The average rate for a 30-year fixed mortgage reached its highest point since late August at 3.63 percent, up from last week’s 3.52 percent. The rate on a 30-year fixed mortgage hit an all-time low of 3.31 percent in November.
The rate on a 15-year fixed mortgage this week averaged 2.79 percent, up slightly from last week’s 2.76 percent. A year ago, it averaged 3.16 percent.
The government said employers added 236,000 jobs last month, helping the unemployment rate fall to 7.7 percent. Retail sales also improved in February at double the expected rate despite a cut in Americans’ take-home pay due to the expiration of a payroll tax holiday.
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