NEWS
03/10/2016 10:20 EST | Updated 03/11/2017 00:12 EST

Average US rate on 30-year mortgage edges up to 3.68 per cent

WASHINGTON — Average long-term U.S. mortgage rates rose this week for only the second time this year.

It was the second straight weekly increase for long-term loan rates, which had declined since the start of the year amid global economic anxiety and market turbulence. Rates still remain at historically low levels at the start of the spring home buying season.

Mortgage buyer Freddie Mac says the average rate on a 30-year, fixed-rate mortgage edged up to 3.68 per cent from 3.64 per cent last week. The benchmark rate remains below the 3.86 per cent level it marked a year ago.

The average rate on 15-year fixed-rate mortgages increased to 2.96 per cent from 2.94 per cent last week.

The Associated Press