Friday Rate Update

Mortgage Rates Edge Up


The rate for a 30-year fixed-rate mortgage averaged 3.68 percent this week, up from the previous week’s average of 3.65 percent, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 4.29 percent.

This week’s 15-year FRM rate averaged 2.94 percent, up from last week’s 2.92 percent rate. A year ago, the 15-year FRM rate averaged 3.38 percent.

--ABA Daily Newbytes