Average 30-Year Mortgage Rate Rises to 4.19 Percent

WASHINGTON (AP) -

Long-term U.S. mortgage rates rose this week after three weeks of declines, marking their first increase of the year.

Mortgage buyer Freddie Mac says the rate on 30-year fixed-rate loans climbed to an average of 4.19 percent from 4.09 percent last week. That was still sharply higher than a 30-year rate that averaged 3.65 percent for all of 2016, the lowest level recorded from records going back to 1971. A year ago, the benchmark rate stood at 3.79 percent.

The average for a 15-year mortgage increased to 3.40 percent from 3.34 percent last week.