US long-term mortgage rates up slightly; 30-year at 2.88%

WASHINGTON (AP) — Average long-term mortgage rates rose slightly this week continuing a months-long trend of little movement. They remain under 3%. Mortgage buyer Freddie Mac reports that the average rate for a 30-year mortgage edged up to 2.88% from 2.86% last week. The rate for a 15-year loan increased to 2.15% from 2.12% last week. Amid anxiety that the highly contagious delta variant could cause the economic recovery from the pandemic to stall, the Federal Reserve on Wednesday signaled its belief that the economy has recovered sufficiently from the recession for it to soon begin dialing back the emergency aid it provided after the virus erupted.