Friday Rate Update

Mortgage Rates Continue to Climb 

The rate for a 30-year fixed-rate mortgage rose to 3.73 percent this week, up from 3.68 percent the week prior and marking three straight weeks of increases, Freddie Mac said yesterday. At this time last year, the 30-year FRM averaged 3.78 percent.

This week’s 15-year FRM averaged 2.99 percent, up from last week’s average of 2.96 percent. A year ago, the 15-year FRM averaged 3.06 percent.

--ABA Daily Newsbytes