US long-term mortgage rates rise again; 30-year at 3.05%

WASHINGTON (AP) — U.S. long-term mortgage rates again rose modestly this week against the backdrop of an improving economy and further distribution of coronavirus vaccines. Rates remain near historic lows, however. The benchmark 30-year loan stayed above the 3% mark, a level it breached last week for the first time since July 2020. Mortgage buyer Freddie Mac reports that the average rate on the 30-year fixed-rate home loan rose to 3.05% from 3.02% last week. The average rate on 15-year fixed-rate loans increased to 2.38% from 2.34% last week. President Joe Biden signed into law the $1.9 trillion relief package targeted to help the U.S. defeat the coronavirus and shore up the economy.