WASHINGTON – Average long-term U.S. mortgage rates have risen for a second straight week yet remained near historically low levels.
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Mortgage company Freddie Mac says the nationwide average for a 30-year mortgage jumped to 3.76 percent from 3.69 percent last week. The average rate is still at its lowest level since May 2013.
The rate for the 15-year loan, a popular choice for people who are refinancing, increased to 3.05 percent from 2.99 percent last week.
A year ago, the average 30-year mortgage stood at 4.33 percent and the 15-year mortgage at 3.35 percent. Mortgage rates have remained low even though the Federal Reserve in October ended its monthly bond purchases, which were meant to hold down long-term rates.