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VOL. 40 | NO. 32 | Friday, August 5, 2016
Average US 30-year mortgage rate ticks up to 3.45 percent
WASHINGTON (AP) — Long-term U.S. mortgage rates edged higher this week, though rates remain at historically low levels.
Mortgage giant Freddie Mac says the average for the benchmark 30-year fixed-rate mortgage ticked up to 3.45 percent from 3.43 percent last week. The average rate is down sharply from 3.94 percent a year ago, and remains close to its all-time low of 3.31 percent in November 2012.
The 15-year fixed mortgage rate rose to 2.76 percent from 2.74 percent last week.
Record-low interest rates this year have helped spur home purchases and boost the housing market.