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Mortgage rates move higher ahead of the June jobs report


Interest rates hit new yearly highs ahead of the June jobs report and the holiday weekend, and are steadily approaching the levels of last year, Freddie Mac reported on Thursday.

The 30-year-fixed rate averaged 4.08 percent, up from 4.02 percent. A year ago, the rate averaged 4.12 percent. Other rates also increased.

"Overseas events are generating significant day-to-day volatility in interest rates,” said Sean Becketti, Freddie Mac’s chief economist, in a news release. Mortgage applications have been declining on the rising rates, Becketti said, but recent data on pending sales and home prices indicates that the housing market is strengthening. 


 

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