March 07, 2019 12:22 PM
WASHINGTON (AP) — U.S. long-term mortgage rates rose modestly this week, but they remain slightly lower than they were a year ago.
Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage increased to 4.41 percent from at 4.35 percent during the prior week. The average was 4.46 percent a year ago, but rates climbed for much of 2018 and peaked at nearly 5 percent in early November.
The average rate this week for 15-year, fixed-rate loans rose to 3.83 percent from 3.77 percent during the prior week
Mortgage rates often move in sync with the interest paid on 10-year U.S. Treasury notes. Rising rates in 2018 suppressed home sales, but the lower levels in recent months point to the possibility of sales gains this year.
By JOSH BOAK
Updated: March 07, 2019 12:22 PM
Created: March 07, 2019 11:54 AM
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