Average US 30-year mortgage rate ticks up to 4.05 percent

May 11, 2017 - 10:14 am

WASHINGTON (AP) — Long-term U.S. mortgage rates inched higher this week. The benchmark 30-year rate remained above the key threshold of 4 percent.

Mortgage buyer Freddie Mac says the average rate on 30-year fixed-rate home loans rose to 4.05 percent from 4.02 percent from last week. The rate stood at 3.57 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971.

The rate on 15-year mortgages ticked up to 3.29 percent last week from 3.27 percent.

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