What happens next Where's my refund? Best CD rates this month Shop and save 🤑
PERSONAL FINANCE

Average 30-year mortgage rate rises to 4.37%

The Associated Press

WASHINGTON (AP) — Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels.

A for sale sign is placed in front of a house in Mount Lebanon, Pa.

Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 4.37% from 4.28% last week. The average for the 15-year mortgage rose to 3.38% from 3.32%.

Mortgage rates have risen about a full percentage point since hitting record lows roughly a year ago.

The increase was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases, which have helped keep long-term interest rates low.

Deeming the economy to be gaining strength, the Fed announced in December and January that it was reducing its monthly bond purchases.

Featured Weekly Ad