Rate on 30-Year Mortgage Rises to 3.57 Percent

Thursday, 28 Mar 2013 10:03 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Average U.S. rates on fixed mortgages edged up this week, but remained near historic lows. Low rates have helped drive the housing market's steady recovery.

Mortgage buyer Freddie Mac says the average rate for the 30-year fixed loan rose to 3.57 percent from 3.54 percent last week. That's near the 3.31 percent reached in November, which was the lowest on records dating to 1971.

The average rate on the 15-year fixed mortgage increased last week to 2.76 percent from 2.72 percent last week. The record low of 2.63 percent was also reached in November.

The lowest mortgage rates in decades are spurring more home purchases and refinancing. That's helped the broader economy. Increased sales are also pushing home prices higher.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved