US average mortgage rates rise slightly; 30-year at 2.88%

WASHINGTON (AP) — Average long-term mortgage rates were marginally higher this week as the recovering economy appeared stalled against the backdrop of a wave of new delta variant coronavirus cases. They remained under 3%.

Mortgage buyer Freddie Mac says the average rate for a 30-year mortgage edged up to 2.88% from 2.87% last week.

The rate for a 15-year loan ticked up to 2.19% from 2.18% last week.

Concern continues to swirl that the highly contagious delta variant could cause the economic recovery from the pandemic to sputter by reducing employment and dampening consumer spending.

Categories: National News