30-year-mortgage Rate Rises To 3.98%

The average rate for a 30-year fixed-rate mortgage rebounded in the week that ended Oct. 30, rising to 3.98% from the prior week's average of 3.92%, which was the lowest reading since early June 2013, according to a Thursday report from federally controlled mortgage-buyer Freddie Mac . A year ago, the 30-year rate was at 4.10%. The average rate for the 15-year fixed-rate mortgage rose to 3.13% in the latest week from 3.08% in the prior week. Meanwhile, the rate for a 5-year Treasury-indexed hybrid adjustable-rate mortgage increased to 2.94% from 2.91%. The rate for a 1-year Treasury-indexed ARM rose to 2.43% from 2.41%.

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