30-year mortgage rate up slightly

  • Associated Press
November 29, 2012

WASHINGTON — Average U.S. rates on fixed mortgages stayed close to record lows this week, a trend that has made home buying more affordable and helped the housing market recover.

Mortgage buyer Freddie Mac says the average rate on the 30-year loan edged up to 3.32 percent. That’s close to last week’s rate of 3.31 percent, the lowest on records dating to 1971.

The average on the 15-year fixed mortgage ticked up to 2.64 percent from 2.63 percent last week, also a record low.

The average rate on the 30-year loan has been below 4 percent all year. It has fallen further since the Federal Reserve started buying mortgage bonds in September to encourage more borrowing and spending.

TRENDING NEWS

Comments

blog comments powered by Disqus