US mortgage rates rise this week but remain low

CP1785999005
In this Sept. 25, 2019, photo a sign indicating a "new" selling price for a house sits atop a realtor\'s sign in Jackson, Miss. On Thursday, Oct. 17, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Rogelio V. Solis)

WASHINGTON – U.S. long-term mortgage rates rose this week after signs of a trade truce between the U.S. and China last week pushed up the interest rate on 10-year Treasurys.

Mortgage giant Freddie Mac said Thursday that the average rate for a 30-year fixed mortgage rose to 3.69% from 3.57% the previous week. That’s down from 3.9% at the same time last year and by historic standards is very low.

Lower rates have helped reinvigorate the housing market, which stumbled last year. Sales of existing homes reached a 17-month high in August, and new home sales jumped 7% that month. Single-family home construction has also ticked up.

The average rate on a 15-year mortgage moved up to 3.15% from 3.05% a week ago.

News from © iNFOnews.ca, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

iNFOTEL

Related Articles

See the world in vertical: Top photos by AP photojournalists | iNFOnews.ca
A pilgrim attends an outdoor Mass outside the Church of San Cayetano during the annual pilgrimage honoring Saint Cajetan, the patron saint of work, in Buenos Aires, Argentina, Friday, Aug. 7, 2026. (AP Photo/Natacha Pisarenko)

See the world in vertical: Top photos by AP photojournalists