Friday Rate Update

Mortgage Rates Tick Up 

The rate for a 30-year fixed-rate mortgage averaged 3.56 percent this week, up from the previous week’s 3.54 percent, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 4.02 percent.

This week’s 15-year FRM averaged 2.83 percent, up from 2.81 percent last week. A year ago, the 15-year FRM averaged 3.21 percent.

--ABA Daily Newsbytes