U.S. Mortgage Rates Rise to Highest Level Since April

Mortgage rates in the United States surged this week amid expectations that the Federal Reserve could raise interest rates sooner than previously expected, according to data by Freddie Mac.

The fixed-rate 30-year mortgage registered an average rate of 3.02% for the week ended June 24.

This marked an increase of 9 basis points compared with the previous week, and the first time since April that the benchmark mortgage rate exceeded the 3% level.

The average fixed-rate rate for the 15-year mortgage also increased by 10 basis points to 2.34%.