US long-term mortgage rates increase again
Lower borrowing rates have helped revive the housing market, which stumbled last year.
WASHINGTON (AP) — US long-term mortgage rates rose for the third straight week, while remaining historically low and far below their levels of a year ago.
Mortgage giant Freddie Mac says the average rate for a 30-year fixed-rate mortgage increased to 3.78 percent from 3.75 percent last week. By contrast, the key average rate stood at 4.83 percent a year ago.
The average rate on a 15-year mortgage ticked up to 3.19 percent from 3.18 percent last week.
Lower borrowing rates have helped revive the housing market, which stumbled last year. New home sales jumped 15.5 percent in September from a year earlier.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com