Freddie Mac (Photo credit: Wikipedia)

Mortgage Rates Rising, But Still Remain Low

The average U.S. 30-year mortgage hit 3.91% last week. This is  the highest percentage for a long term fixed mortgage since March of 2012 according to Freddie Mac, one of the nation's largest mortgage buyers.

The average 15-year loan is now above 3% for the first time since May of 2012, rising from 2.98% to 3.03% this week. Adjustable rate mortgage rates are also on the rise, with a one-year ARM loan average moving from 2.54% to 2.58%. The rate on a five-year ARM sits at 2.74%, up from 2.66%.