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US mortgage rates climb to 2015 highs on strong jobs report

Thursday, March 12, 2015 - 22:46

[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