By Canadian Press

Average US 30-year mortgage rate rises to 3.54 per cent

Nov 3, 2016 | 8:15 AM

WASHINGTON — Long-term U.S. mortgage rates jumped this week, reaching their highest levels since late June amid indications of strength in the economy.

Mortgage giant Freddie Mac says the average for a 30-year fixed-rate mortgage rose to 3.54 per cent from 3.47 per cent last week. Rates remain near historically low levels, however. The benchmark 30-year rate is down from 3.87 per cent a year ago. Its all-time low was 3.31 per cent in November 2012.

The 15-year fixed-rate mortgage, popular with homeowners who are refinancing, increased to 2.84 per cent from 2.78 per cent.

The Associated Press

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