Mortgage rates increase from 2014 low, Freddie Mac says
Mortgage rates rose this week from their lowest point in 2014, but lenders still offered a 30-year fixed loan below 4%, according to Freddie Mac’s weekly survey.
The average rate on a 15-year fixed mortgage jumped to 3.13% from 3.08% last week. Interest rates on a 30-year loan climbed to 3.98% from 3.92%, Freddie Mac said Thursday.
Rates had been falling for weeks as investors -- concerned over the global economy -- rushed into U.S. Treasury bonds, which put downward pressure on mortgage rates.
Although there was an uptick this week, rates remain low. A year ago, lenders offered a 30-year fixed loan at an average of 4.1% and a 15-year loan at 3.20%, Freddie Mac said.
The mortgage finance giant’s survey asks lenders each Monday morning through midday Wednesday about the terms they are offering to low-risk borrowers on loans up to $417,000.
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