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U.S. Mortgage Rates on the Rise This Week

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U.S. mortgage rates up this week; 30-year at 4.41%

WASHINGTON (AP) – March 8, 2019 – U.S. long-term mortgage rates rose modestly this week, but they remain slightly lower than they were a year ago.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage increased to 4.41 percent from at 4.35 percent during the prior week. The average was 4.46 percent a year ago, but rates climbed for much of 2018 and peaked at nearly 5 percent in early November.

The average rate this week for 15-year, fixed-rate loans rose to 3.83 percent from 3.77 percent during the prior week.

Mortgage rates often move in sync with the interest paid on 10-year U.S. Treasury notes. Rising rates in 2018 suppressed home sales, but the lower levels in recent months point to the possibility of sales gains this year.

AP Logo Copyright © 2019 The Associated Press, Josh Boak, AP economics writer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

                                                                                                                                                                                                    

Information provided by Florida Realtors.  Click here to see the original article.

Reprinted with permission Florida Realtors. All rights reserved. 

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