FILE - This June 20, 2019, file photo shows an existing home is offered for sale in Rutledge, Ga. On Thursday, Dec. 12, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/John Bazemore, File)

US long-term mortgage rates rise; 30-year loan at 3.73%

December 12, 2019 - 10:18 am

WASHINGTON (AP) — U.S. long-term mortgage rates rose this week. Still, rates remain at historically low levels as a lure to prospective homebuyers. Mortgage buyer Freddie Mac says the average rate for a 30-year fixed-rate mortgage increased to 3.73% from 3.68% last week. The benchmark rate stood at 4.63% a year ago. The average rate on a 15-year mortgage rose to 3.19% from 3.14%.

The average rate for a five-year adjustable-rate mortgage bucked the trend at 3.36%, down from 3.39% last week.

Freddie Mac surveys lenders nationwide between Monday and Wednesday each week to compile its mortgage rate figures.

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