Average US 30-year mortgage rate rises to 4.15 pct

AP Mortgage Rates
In this May 8, 2014 photo, a sign announces a residential home sale pending in Framingham, Mass. (AP Photo/Bill Sikes)

WASHINGTON (AP) — Average U.S. rates on fixed mortgages edged up slightly this week, remaining near historically low levels.

Mortgage buyer Freddie Mac says the nationwide average rate for a 30-year loan rose to 4.15 percent from 4.12 percent last week. The average for the 15-year mortgage increased to 3.24 percent from 3.22 percent.

Mortgage rates are slightly lower than they were at the same time last year, having fallen recently after climbing last summer. That’s when the Federal Reserve began talking about reducing the monthly bond purchases it has been using to keep long-term interest rates low.

Rates have fallen modestly this year as Fed officials have signaled strongly that while they are trimming the bond purchases, they are in no rush to start boosting a key short-term rate the Fed controls.

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WANE.com provides commenting on many stories to allow for constructive discussion. In order to comment, you acknowledge you have read and agreed to our Terms and Conditions. Anyone violating these terms, including the use of vulgar language or racial slurs, will be banned. Please be respectful of the opinion of others. If you see an inappropriate comment, flag it so our moderators can review.

blog comments powered by Disqus