Mortgage Rates Increase From 2014 Low, Freddie Mac Says

(Los Angeles Times/MCT) -

Mortgage rates rose this week from their lowest point in 2014, but lenders still offered a 30-year fixed loan below 4 percent, according to Freddie Mac’s weekly survey.

The average rate on a 15-year fixed mortgage jumped to 3.13 percent from 3.08 percent last week. Interest rates on a 30-year loan climbed to 3.98 percent from 3.92 percent, Freddie Mac said Thursday.

Rates had been falling for weeks as investors — concerned over the global economy — rushed into U.S. Treasury bonds, which put downward pressure on mortgage rates.

Although there was an uptick this week, rates remain low. A year ago, lenders offered a 30-year fixed loan at an average of 4.1 percent and a 15-year loan at 3.20 percent, Freddie Mac said.

The mortgage-finance giant’s survey asks lenders each Monday morning through midday Wednesday about the terms they are offering to low-risk borrowers on loans up to $417,000.