US Average 30-Year Mortgage Rate Jumps to 3.50 Percent
WASHINGTON (AP) — Long-term U.S. mortgage rates rose this week, with the benchmark 30-year loan reaching its highest level since June. Rates remain at historically low levels, however. Mortgage giant Freddie Mac says the average for the 30-year fixed-rate mortgage jumped to 3.50 percent from 3.44 percent last week. It was the highest level since June, when it averaged over 3.60 percent. Still, the average 30-year rate is down from 3.91 percent a year ago, and is close to its all-time low of 3.31 percent in November 2012. The 15-year fixed mortgage rate edged up to 2.77 percent from 2.76 percent.