US mortgage rates up after 6-week decline; 30-year at 2.87%

Mortgage rates rose this week for the first time after six weeks of declines amid signs of strong economic recovery

WASHINGTON -- Mortgage rates rose this week for the first time after six weeks of declines amid signs of strong economic recovery. Average rates for home loans remain historically low, however, at under 3%. Mortgage buyer Freddie Mac reported Thursday that the average for the 30-year mortgage jumped to 2.87% from 2.77% last week. The benchmark rate, which reached a peak this year of 3.18% in April, stood at 2.96% a year ago. The rate for a 15-year loan, a popular option among homeowners refinancing their mortgages, increased to 2.15% from 2.10%.