Us mortgage rates rise from four-year low

US mortgage rates have risen from a four-year low, according to Freddie Mac.

The average rate for a 30-year fixed mortgage climbed to 4.16 per cent, while the average 15-year rate increased to 3.27 per cent.

The rise in rates marks a step away from the record affordability of US property for buyers. Indeed, sales of US homes have fallen recently, according to the National Association of Realtors, as rising house prices and less affordable lending deters buyers from making the leap onto – or up – the property ladder.

Source: Bloomberg