WASHINGTON — Average U.S. rates on fixed mortgages rose this week as the spring home-buying season has gotten off to a slow start.
Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan rose to 4.33 percent from 4.27 percent last week. The average for the 15-year mortgage increased to 3.39 percent from 3.33 percent.
Mortgage rates have risen almost a full percentage point from a year ago.
Average prices nationally are expected to rise by single digits this year, after a double-digit surge last year as home values rebounded from the Great Recession.
The average fee for a 30-year mortgage fell to 0.6 point from 0.7 point a week ago. The fee for a 15-year loan remained at 0.6 point.
The average rate on a one-year adjustable-rate mortgage stayed at 2.44 percent for the second straight week. The average fee held steady at 0.5 point.
The average rate on a five-year adjustable mortgage remained at 3.03 percent for the past two weeks. The fee was unchanged at 0.5 point.The Associated Press