US long-term mortgage rates rise slightly; 30 years at 2.88%

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WASHINGTON (AP) – Average long-term mortgage rates edged up this week, continuing a trend of a few months to little movement. They remained below 3%.

Mortgage buyer Freddie Mac reported Thursday that the average rate on a 30-year mortgage rose slightly to 2.88% from 2.86% last week. This is very close to where the benchmark rate was at this time last year, 2.90%. It peaked this year at 3.18% in April.

The rate on a 15-year loan, a popular option for homeowners refinancing their mortgages, rose to 2.15%, from 2.12% last week.

Amid concerns that the highly contagious delta variant could block economic recovery after the pandemic, the Federal Reserve on Wednesday indicated its belief that the economy had recovered sufficiently from the recession that it could soon begin to shrink. the emergency aid she provided after the crisis. the virus broke in. Fed Chairman Jerome Powell said the central bank planned to announce as early as November that it would start withdrawing the extraordinary support it unleashed 18 months ago.

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