WASHINGTON Long-term mortgage rates moved higher again this week, with the average for the benchmark 30-year loan peaking just shy of 4%, according to Freddie Mac.
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The average for the 30-year loan moved up to 3.98% from 3.91% last week and is the highest since April 2012. The average rate last was at 4% or higher in March 2012.
The rate on the 15-year loan advanced to 3.10% from 3.03% last week, also the highest since April 2012.
Concerns that the Federal Reserve will scale back its bond purchases have pushed rates higher. Still, mortgage rates remain low by historical standards.
ARM rates were mixed, with the average for the five-year ARM rising to 2.79%, from 2.74%; and the average for the one-year ARM holding steady at 2.58%.
