WASHINGTON — Average U.S. rates on fixed mortgages rose this week for a second straight week but remained near historic lows.
Mortgage buyer Freddie Mac says the average rate for a 30-year loan increased to 4.20 percent from 4.14 percent last week. The average for the 15-year mortgage jumped to 3.31 percent from 3.23 percent.
Rising prices and higher interest rates beginning in mid-2013 have made homes less affordable for would-be buyers. At the same time, a limited supply of homes is available to buy. Mortgage rates are about a quarter of a percentage point higher than they were at the same time last year.
Mortgage rates tend to follow the yield on the 10-year Treasury note. The 10-year note traded at 2.64 percent Wednesday, up from 2.60 percent a week earlier.
AT HOME SENSE®, AtHomeSense.com®, the logo mark text, and the “COMMON SENSE AND OPINION FOR BUYERS, SELLERS & HOMEOWNERS” tagline and stylized logo treatments including any one or more of the foregoing are trademarks of PROFESSIONAL SUPPORT SERVICES and are to be used with its permission only. These and all other trademarks used in this work are the property of their respective owners.