Mortgage rates rise for second straight week

Mortgage rates rose this week but stayed near their historic lows. Cheaper mortgages have helped the economy by spurring more home-buying and refinancing.

The average rate for a 30-year fixed mortgage jumped to 3.51% from 3.42% last week, according to mortgage finance giant Freddie Mac, which conducts a weekly survey of mortgage issuers nationwide.

That’s still near the average of 3.31% reached in November, the lowest on records dating to 1971.

The average on the 15-year fixed mortgage rose to 2.69%. That’s up from 2.61% last week, which was the lowest on records going back to 1991.

Low mortgage rates have helped sustained the housing recovery that began last year. Home sales and construction are up from a year ago, and prices are rising in most U.S. markets.


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Market Statistics

  • 12.54,12.74,11.73,10.7,9.6,9.29,9.02,8.54,8.22,7.85,7.76,8.74

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