Mortgage rates rise as lenders aim to slow the volume of refinancing activity
Mortgage rates jumped as lenders sought to curb a growing volume of refinancing that strained their ability to keep pace. The increases wiped out much of the opportunity to save on loan refinances that had been a silver lining in a rapidly slowing economy.
Average interest on a 30-year fixed-rate mortgage over the past week was 3.65%, according to Freddie Mac, down from 3.29% two weeks earlier. The average interest on a 15-year fixed-rate mortgage was 3.06%, from 2.79.