Average US 30-year mortgage rate jumps to 3.94 percent

IndustriesAssociated Press

Long-term U.S. mortgage rates climbed this week, reflecting deep declines in U.S. government bond prices in the days after Donald Trump's election victory.

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Mortgage giant Freddie Mac says the average for a 30-year fixed-rate mortgage jumped to 3.94 percent from 3.57 percent last week. That put the benchmark rate close to its year-ago level of 3.97 percent.

The 15-year fixed-rate mortgage, popular with homeowners who are refinancing, advanced to 3.14 percent from 2.88 percent.