US mortgage rates climb to 2015 highs on strong jobs report
[BOSTON] Mortgage rates in the US rose to the highest levels this year as job growth gained momentum.
The average rate for a 30-year fixed mortgage was 3.86 per cent, up from 3.75 per cent last week and the highest since Dec 31, Freddie Mac said in a statement Thursday. The average 15-year rate climbed to 3.1 per cent from 3.03 per cent, the McLean, Virginia-based mortgage-finance company said.
Borrowing costs tracked an increase in yields for 10-year Treasuries, which climbed last week after the Labor Department reported that 295,000 jobs were added in February and the unemployment rate fell to 5.5 per cent, the lowest in almost seven years.
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month
China firms are investing abroad at fastest pace in eight years
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs