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. The five-year adjustable-rate mortgage rate hit the highest level since mid-2011.
Mortgage giant Freddie Mac said Thursday that 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, popular among homeowners who are refinancing, rose to an average 3.38 percent, highest since March and up from 3.36 percent last week. But it still down from 3.52 percent a year ago.
The rate on five-year adjustable-rate mortgages rose to 3.39 percent, highest since June 2011 and up from 3.36 percent last week. It was 3.