Average US mortgage rates rise; 30-year at 4.03 percent

WASHINGTON (AP) – Long-term U.S. mortgage rates rose this week for the second straight week. The benchmark 30-year rate surpassed the significant 4 percent level for the first time since May.

Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages increased to an average 4.03 percent from 3.96 percent last week. It stood at 3.42 percent a year ago and averaged a record low 3.65 percent in 2016.

The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, rose to 3.29 percent last week from 3.22 percent.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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