Mortgage rates move up amid good news for housing market

Mortgage rates rose slightly this week as demand for home loans increased.

According to a Freddie Mac report released Thursday, the average for 30-year fixed rate reached 2.90%, up from 2.87% with an average 0.8 point. (A point is a fee borrowers pay, in addition to the interest rate, that equals 1% of the loan.) The rate was 3.64% a year ago.

The 15-year fixed-rate average reached 2.40%, up from 2.35% with an average 0.7 point. It was 3.16% a year ago.