US mortgage rates inch up again

Buying News Spring House Hunt
. John Bazemore/Associated Press

WASHINGTON (AP) — US long-term mortgage rates increased this week, though they remain lower than a year ago in a positive sign for home sales.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed-rate mortgage rose from 4.12 percent last week to 4.17 percent. It was 4.47 percent a year ago. Average mortgage rates have been trending downward since peaking at nearly 5 percent in November, helping to increase home sales after a rough 2018.

The average rate this week for 15-year fixed-rate home loans rose from 3.6 percent to 3.62 percent.

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