Average US rate on 30-year mortgage ticks up to 3.64 percent

Friday, February 26, 2016, Vol. 40, No. 9

WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week for the first time in two months as global economic anxiety and market turbulence eased.

Mortgage buyer Freddie Mac says the average rate on a 30-year, fixed-rate mortgage increased to 3.64 percent from 3.62 percent last week. The benchmark rate remains below the 3.75 percent level it marked a year ago.

The average rate on 15-year fixed-rate mortgages edged up to 2.94 percent from 2.93 percent last week

Economists saw some positive signs in new data. The U.S. stock market started recouping losses from a brutal start to the year and ended last Friday with a second straight weekly gain. That brought a break in the recent trend of U.S. government bond prices being catapulted higher as investors sought safety.