Average US mortgage rates edge up; 30-year at 4.54 per cent

WASHINGTON – Long-term U.S. mortgage rates edged up slightly this week, reaching their highest levels since late June.

Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages rose to 4.54 per cent from 4.52 per cent last week. Long-term loan rates have been running at their highest levels in seven years. The average benchmark 30-year rate reached a high this year of 4.66 per cent on May 24. The rate stood at 3.92 per cent a year ago.

The average rate on 15-year, fixed-rate loans ticked up to 4.02 per cent this week from 4.00 per cent last week.