Wow and Wow…. Have You Seen the Rate Trends?
The average long-term U.S. mortgage rates rose slightly this week but remain near historic lows with the spring home-buying season underway and showing strong sales.
Mortgage giant Freddie Mac said Thursday that the national average for a 30-year fixed -rate mortgage increased to 3.68 percent from 3.65 percent last week.
The average rate for a 15-year mortgage, popular with homeowners who refinance, ticked up to 2.94 percent from 2.92 percent.
A year ago, the 30-year mortgage rate averaged 4.29 percent while the 15-year mortgage averaged 3.38 percent. These low rates are something to celebrate and of course just another reason to consider buying a home.