NEW YORK - Interest rates on U.S. 30-year fixed-rate mortgages rose to 4.79 percent on Friday after hitting a record low of 4.52 percent earlier in the week, according to real estate website Zillow.com.
The 30-year fixed-rate mortgage, the most widely used home loan, was at 4.63 percent on Thursday and has been at historic lows, hovering at or below 5 percent since early September, according to Zillow Mortgage Marketplace.
Zillow Mortgage Marketplace launched in April 2008.
The higher rates reflect a sharp rise in yields on U.S. government bonds, which are linked to the mortgage market.
The lowest mortgage rates in decades and high affordability have helped the hard-hit housing market find some footing this year after a three-year slump.
Higher rates, however, may hurt home loan demand.