Long-term US mortgage rates blip higher this week

WASHINGTON (AP) — Long-term U.S. mortgage rates rose this week but remain lower than they were a year ago.

Mortgage giant Freddie Mac says the rate on 30-year fixed-rate mortgages rose to 3.94 percent, up from 3.93 percent last week. They stood at 4.30 percent a year ago. The rate on 15-year fixed-rate mortgages rose to an average 3.38 percent from 3.36 percent but down for 3.52 percent a year ago.

The Freddie Mac survey was taken before Congress passed a sweeping tax-cut bill, sending other long-term rates higher. "If those rate increases stick, we'll likely see higher mortgage rates in next week's survey," said Len Kiefer, Freddie Mac's deputy chief economist.

The rate on five-year adjustable-rate mortgages rose to 3.39 percent from 3.