US 30-year mortgage rates hit 2-month high

New York

INTEREST rates on US 30-year mortgages broke above 4 per cent this week, rising to their highest in two months in step with the recent rise in US Treasury yields, Freddie Mac said on Thursday.

The borrowing cost on 30-year mortgages, the most widely held type of US home loan, averaged 4.03 per cent in the week ended July 13, the highest since 4.05 per cent in the May 11 week. Last week, the average 30-year rate was 3.96 per cent, the mortgage finance agency said.