US average 30-year mortgage rate back up over 3% this week
ABC News
The average long-term U.S. mortgage rate rose this week, with the main 30-year rate inching back up over 3%
SILVER SPRING, Md. -- The average long-term U.S. mortgage rate rose this week, with the main 30-year rate inching back up over 3%.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year benchmark home loan jumped to a still-low 3.1% from 2.98% last week. A year ago at this time the rate was 2.72%.
The rate for a 15-year loan, popular with homeowners refinancing their mortgages, rose to 2.39% from 2.27% last week. It stood at 2.28% a year ago.
As the job market has improved and demand for products and services continues to be red-hot, the Federal Reserve earlier this month said it would keep its main borrowing rate near zero but begin dialing back the extraordinary stimulus it has provided since the coronavirus pandemic erupted last year.
