Friday Rate Update

Mortgage Rates Continue to Rise

The rate for a 30-year fixed-rate mortgage averaged 3.76 percent this week, up from last week’s 3.69 percent, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 4.33 percent.

This week’s 15-year FRM rate averaged 3.05 percent, up from last week’s 2.99 percent rate. A year ago, the 15-year FRM rate averaged 3.35 percent.