Home Loan Interest Rates Climb to 2016 High

Fixed-rate mortgages were once again on the way up this week, marking the sixth consecutive month for increases. The 30-year fixed-rate mortgage, the most popular option among home buyers, reached a new high for the year.

Freddie Mac reports the following national averages for the week ending Dec. 8:

30-year fixed-rate mortgages averaged 4.13 percent, with an average 0.5 point, increasing from last week’s 4.08 percent average. Last year at this time, 30-year rates averaged 3.95 percent.
15-year fixed-rate mortgages averaged 3.36 percent, with an average 0.5 point, increasing from last week’s 3.34 percent average. A year ago, 15-year rates averaged 3.19 percent.

Source: Freddie Mac