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