NEW YORK (Reuters) - U.S. 30-year mortgage rates increased for a seventh consecutive week to a near four-year peak in step with U.S. bond yields on concerns about rising inflation and further rate hikes from the Federal Reserve, Freddie Mac (PK:FMCC) said on Thursday.
The borrowing cost on 30-year mortgages, the most widely held type of U.S. home loan, averaged 4.40 percent in the week ended on Feb. 22, the highest level since April 2014. Last week, 30-year home loan rates had averaged 4.38 percent, the mortgage finance agency said.