US mortgage rates steady to higher; 30-year at 3.02%

WASHINGTON (AP) — U.S. long-term mortgage rates were steady to higher this week, as the benchmark 30-year loan breached the 3% mark for the first time since July 2020. Rates remain near historic lows as the economy strains toward recovery. Mortgage buyer Freddie Mac reports that the average rate on the 30-year fixed-rate home loan rose to 3.02% from 2.97% last week. The average rate on 15-year fixed-rate loans was unchanged at 2.34%. The number of Americans applying for unemployment benefits edged higher last week to 745,000, a sign that many employers continue to cut jobs despite a drop in confirmed coronavirus infections and evidence that the economy is improving.