Mortgage rates rose for the third week, averaging 3.48 percent for a 30-year, fixed-rate loan, up from 3.45 percent the week before.
A year ago, rates averaged 3.98 percent, according to Freddie Mac’s weekly survey.
Rates have held below 4 percent since December. That’s 30 weeks, the second-longest run of cheap borrowing ever. The record was set from March 2012 to June 2013, when the cost of a 30-year loan held below 4 percent for 65 weeks, hitting a historic low of 3.31 percent in November 2012.
Source: Freddie Mac