WASHINGTON (AP) — U.S. long-term mortgage rates increased this week, though they remain lower than a year ago in a positive sign for home sales.
Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage rose to 4.17% from 4.12% last week and 4.47% a year ago. Average mortgage rates have been trending downward since peaking at nearly 5% in November, helping to increase home sales after a rough 2018.
The average rate this week for 15-year, fixed-rate home loans rose to 3.62% from 3.60%.
Advertisement - story continues below
The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.