U.S. long-term mortgage rates again rose modestly this week against the backdrop of an improving economy and further distribution of coronavirus vaccines. The benchmark 30-year loan stayed above the 3 percent mark, a level it breached last week for the first time since July 2020. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year fixed-rate home loan climbed to 3.05 percent from 3.02 percent last week. By contrast, the benchmark rate stood at 3.36 percent a year ago. The average rate on 15-year fixed-rate loans, popular among those seeking to refinance their mortgages, increased to 2.38 percent from 2.34 percent last week.

Source: The Standard March 12, 2021 07:18 UTC