US average mortgage rates rise slightly; 30-year at 2.88%
Average long-term mortgage rates were marginally higher this week as the recovering economy appeared stalled against the backdrop of a wave of new delta variant coronavirus cases. They remained under 3%.
Mortgage buyer Freddie Mac said Thursday that the average rate for a 30year mortgage edged up to 2.88% from 2.87% last week. That’s very close to where the benchmark rate stood at this time last year, 2.86%. It peaked this year at 3.18% in April. Home loan rates fell in the early summer and then remained steady despite increases in inflation.
The rate for a 15-year loan, a popular option for homeowners refinancing their mortgages, ticked up to 2.19% from 2.18% last week.