Finance Latest News: Mortgage Rates Rise to the Highest Level in Nearly 2 Years

Wochit 0:59 mins

According to mortgage financing company Freddie Mac, the 30-year mortgage rate rose to its highest level in nearly two years. After a slight pause, Freddie Mac said rates climbed just over two tenths of a percentage point to 4.51% for a 30-year, fixed-rate loan, the highest it has been since the week of July 28, 2011. McGraw Hill Financial Inc said Douglas Peterson will replace Chief Executive Harold (Terry) McGraw,who will step down after reaching the mandatory retirement age of 65.McGraw, a member of the 125-year-old company's founding family,will continue as chairman after relinquishing the CEO post on October 31. U.S. stock futures are jumping after Federal Reserve Chairman Ben Bernanke said the central bank would keep supporting the economy.

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