Mortgage rates hit a four-year high late last week, and it’s looking like the years of ultra-low-cost home loans are coming to an end, experts said. “I would say this has been a long time coming,” said Dan Starelli, head of Guild Mortgage in Sacramento. “We’ve had interest rates dropping for decades. I think we hit bottom. I don’t think we’ll see rates in the 3s again.” Interest rates for 30-year fixed-rate mortgages now hover in the 4.5 percent range after a run-up over the past month that was prompted by stock market volatility and strong signs of economic growth. Last year average rates for 30-year mortgages were as low as 3.78 percent, and the year before that they fell nearly to 3.4 percent, according to Freddie Mac, the huge home-loan corporation owned by the federal government.
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