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.