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February 16, 2018

Mortgage rates reach highest level in 4 years

  • Bankrate's forecast calls for rates on the 30-year, fixed-rate mortgage to climb above 5 percent, then pull back to finish the year at 4.5 percent.
  • By ALEX VEIGA and JOSH BOAK
    AP Business Writers

    The cost of borrowing for a home keeps going up, a potential obstacle to would-be buyers at a time when home prices are at all-time highs in more than half of major U.S. markets.

    Average long-term mortgage rates have been rising steadily this year and are now at the highest level in almost four years. That translates into higher mortgage payments and more money paid out over the life of the typical 30-year home loan.


     
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