Mortgage rates hit highest level since 2014

Mortgage rates have risen for seven consecutive weeks, pushing 30-year mortgages to their highest rate since April 2014, Freddie Mac’s Primary Mortgage Market Survey found. The rate for 30-year fixed-rate mortgages ended the week at 4.4 percent, which is up from 4.38 percent from the week before and 4.16 percent at the same time last year, HousingWire reported. “Mortgage rates have followed U.S. Treasury’s higher in anticipation of higher rates of inflation and further monetary tightening by the Federal Reserve,” said Len Kiefer, Freddie Mac deputy chief economist. [HousingWire]