WASHINGTON (AP) - Average rates on fixed mortgage rose for the third straight week, hitting their highest levels since mid-March. Still, mortgage rates remained close to historic lows, a trend that should help sustain the housing recovery.
Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 3.59 percent this week. That's up from 3.51 percent last week and above the rate of 3.31 percent reached in November, the lowest on records dating to 1971.
The average on the 15-year loan jumped to 2.77 percent. That's up from 2.69 percent last week. The record low of 2.56 percent was hit on May 2.
Cheaper mortgages are a key reason home sales have increased this year. That's helped boost home prices and construction, too.
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Wednesday, December 11 2013 1:05 AM EST2013-12-11 06:05:12 GMT
MISSOULA, Mont. (AP) - Friends of a Montana woman on trial for the death of her new husband say she showed little emotion when she located his body in Glacier National Park.More >>
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Tuesday, December 10 2013 11:59 AM EST2013-12-10 16:59:51 GMT
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