Mortgage Rates Surge to Over 2.5-Year High

Weekly mortgage rates surged to the highest level in more than two-and-a-half years, and the outlook is for them to stay put.

Thirty-year note rates averaged 3.81 percent on all residential loans that were closed during the month of November 2016.

Mortgage rates climbed 5 basis points from the previous month, while they were down from 4.23 percent a year previous.

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From:: Financing