U.S. mortgage rates rise to highest levels in over two years: MBA

[December 07, 2016]  NEW YORK (Reuters) - Interest rates on U.S. fixed-rate mortgages rose to their highest levels in more than two years, sending weekly home loan application activity to its weakest since early January, Mortgage Bankers Association data released on Wednesday showed.

Homes are seen for sale in the southwest area of Portland, Oregon March 20, 2014. REUTERS/Steve Dipaola

The Washington-based industry group said 30-year fixed-rate conforming mortgages averaged 4.27 percent, which was the highest level since October 2014. The average rate on 30-year conforming loans with balances of $417,000 or less, which mortgage agencies Fannie Mae and Freddie Mac guarantee, was 4.23 percent.

(Reporting by Richard Leong)

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