US long-term mortgage rates rise again; 30-year at 3.05%

WASHINGTON — U.S. long-term mortgage rates again rose modestly this week against the backdrop of an improving economy and further distribution of coronavirus vaccines. Rates remain near historic lows, however.

The benchmark 30-year loan stayed above the 3% mark, a level it breached last week for the first time since July 2020.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year fixed-rate home loan rose to 3.05% from 3.02% last week. By contrast, the benchmark rate stood at 3.36% a year ago.

The average rate on 15-year fixed-rate loans, popular among those seeking to refinance their mortgages, increased to 2.38% from 2.34% last week.

Leave a Reply

Your email address will not be published. Required fields are marked *