US long-term mortgage rates edge higher; 30-year at 3.09%

WASHINGTON (AP) — U.S. long-term mortgage rates continued to edge higher this week as the benchmark 30-year loan stayed above the 3% mark. Rates remain near historic lows, however. Mortgage buyer Freddie Mac reports that the average rate on the 30-year fixed-rate home loan rose to 3.09% from 3.05% last week. The average rate on 15-year fixed-rate loans increased to 2.40% from 2.38% last week. The prospect of massive pandemic aid, following Congress’ recent enactment of the nearly $2 trillion relief package, has helped lift uncertainty about the economic recovery and likely coaxed mortgage rates higher.