U.S. Mortgage Interest Rates Rise to 4.9%

At more than a three year high, the average U.S. home loan interest rate for a 30-year fixed-rate mortgage rose to 4.9%. Nearly a 1.6% increase since the start of the year.

According to Reuters, investors see the Fed bringing its federal funds rate to 2.5%-2.75% by the end of this year, up from the current target range of between 0.25% and 0.5%. 

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