Average US long-term mortgage rates hold firm another week

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — The average interest rate on a long-term mortgage in the U.S. held firm again this week. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year, fixed rate home loan ticked down this week to 3.10% from 3.11% last week. The average rate on a 15-year mortgage also dipped slightly, to 2.38% from 2.39% last week. Many economists expect U.S. interest rates to rise in coming months as the Fed pivots from the easy money policies it adopted after the coronavirus outbreak ravaged the U.S. economy in the spring of 2020.