US average mortgage rates edge up; 30-year at 4.46 per cent

US average mortgage rates edge up; 30-year at 4.46 per cent
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WASHINGTON — U.S. long-term mortgage rates edged up after declining in recent weeks.

Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed-rate mortgage rose to 4.46 per cent, from 4.45 per cent last week. Despite the recent declines, home borrowing rates are above last year’s levels. The key 30-year rate averaged 4.22 per cent a year ago.

The average rate this week for 15-year, fixed-rate loans ticked up to 3.89 per cent from 3.88 per cent.

The recent decline in mortgage rates has been a spur to prospective homebuyers. Sales of new U.S. homes soared 16.9 per cent November.

The Associated Press

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