30-year-mortgage Rate Rises To 4.02%

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The average rate for a 30-year fixed-rate mortgage rose to 4.02% in the week that ended Nov. 6, hitting above 4% for the first time since early October, from the prior week's average of 3.98%, according to a Thursday report from federally controlled mortgage-buyer Freddie Mac . A year ago, the 30-year rate was at 4.16%. The average rate for the 15-year fixed-rate mortgage rose to 3.21% in the latest week from 3.13% in the prior week. Meanwhile, the rate for a 5-year Treasury-indexed hybrid adjustable-rate mortgage increased to 2.97% from 2.94%. The rate for a 1-year Treasury-indexed ARM rose to 2.45% from 2.43%.

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