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US average mortgage rates jump; 30-year at 3.01%


WASHINGTON (AP) — Average long-term mortgage rates jumped this week as the benchmark 30-year loan edged over 3%. Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage increased to 3.01% from 2.88% last week. The rate for a 15-year loan advanced to 2.28% from 2.15% last week. A factor in the upward pressure on rates was the Federal Reserve’s signaling last week its belief that the economy has recovered sufficiently from the pandemic recession for it to soon begin dialing back the emergency aid it provided after the spread of the coronavirus. 

Article Topic Follows: AP National Business

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