US average mortgage rates jump; 30-year at 3.01%

Average long-term mortgage rates jumped this week as the benchmark 30-year loan edged over 3%

WASHINGTON — Average long-term mortgage rates rose jumped this week as the benchmark 30-year loan edged over 3%.

Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage increased to 3.01% from 2.88% last week. The rate stood at 2.88% this time last year. It peaked this year at 3.18% in April.

The rate for a 15-year loan, a popular option for homeowners refinancing their mortgages, advanced to 2.28% from 2.15% last week.

The yield on the key 10-year U.S. Treasury bond this week reached its highest level since June. Yields, which can influence interest rates on mortgages and other consumer loans, generally rise when bond prices fall.

Be the first to comment

Leave a Reply

Your email address will not be published.


*