Average 30-year mortgage rates rose slightly to 3.18%

Long-term U.S. mortgage rates fell this week as the key 30-year home loan marked an all-time low for the third time in the last few months since the coronavirus outbreak took hold.  PHOTO CREDIT: Ted Shaffrey

BALTIMORE — Long-term mortgage rates increased slightly as the U.S. economy showed signs that the worst of the coronavirus-fueled recession might have passed.

The average interest charged on a 30-year mortgage was 3.18% this week, up from 3.15% a week ago, according to a report today by mortgage buyer Freddie Mac. That average is down from 3.82% a year ago.

The economic collapse following the COVID-19 outbreak has corresponded with a decline in mortgage rates. But there are signs that the economy may have already bottomed as government data shows that applications for jobless aid — though still historically high — are steadily falling.

The average 15-year mortgage rate was unchanged from last week at 2.62%. This average has fallen from 3.28% a year ago.