30-Year Mortgage Rate Up, But Still Under 4%

The Associated Press
mortgage rates
mortgage rates

WASHINGTON -- The average rate on the 30-year fixed mortgage jumped after standing pat for three straight weeks at record lows. But the rate stayed below 4 percent for the 12th straight week, keeping homebuying and refinancing attractive for those who can qualify.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan rose to 3.95 percent. That's up from last week's rate of 3.87 percent, the lowest since long-term mortgages began in the 1950s.

The average on the 15-year fixed mortgage rose to 3.19 percent from 3.16 percent. It hit a record low of 3.14 percent three weeks ago.