WASHINGTON (AP) – Long-term US mortgage rates rose this week after three weeks of declines, marking their first increase of the year.
Mortgage buyer Freddie Mac says the rate on 30-year fixed-rate loans climbed to an average 4.19 percent from 4.09 percent last week. That was still sharply higher than a 30-year rate that averaged 3.65 percent for all of 2016, the lowest level recorded from records going back to 1971. A year ago, the benchmark rate stood at 3.79 percent.
The average for a 15-year mortgage increased to 3.40 percent from 3.34 percent last week.