Average long-term U.S. mortgage rates rose this week, reaching high levels for the year.
Mortgage giant Freddie Mac says the average rate on a 30-year fixed-rate mortgage rose to 4.08 percent this week from 4.02 percent a week earlier. The rate on 15-year fixed-rate mortgages increased to 3.24 percent from 3.21 percent.
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Mortgage rates have increased in recent weeks, in the midst of the spring home buying season, as the economy has shown signs of improvement.