US long-term mortgage rates edge up; 30-year loan at 3.65%

KNSS News
January 16, 2020 - 10:04 am

In this Jan. 9, 2020, photo a "Coming Soon" sign hangs from a real estate sign outside a home in Derry, N.H. On Thursday, Jan. 16, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Charles Krupa)

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WASHINGTON (AP) — U.S. long-term mortgage rates rose slightly last week after financial markets that had been roiled by the U.S.-Iran conflict stabilized.

Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage ticked up to 3.65% from 3.64% last week. The benchmark rate was 4.45% a year ago.

The average rate on a 15-year mortgage increased to 3.09% from 3.07% last week.

Loan rates regained the stability they've shown in recent months, buttressed by positive economic data, a strong job market, and improved sentiment in the housing market, which saw a slowdown early last year.

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