Mortgage rates are inching up as the economy slowly improves. Rates for a 30-year fixed mortgage rose to an average of 3.62% for the week ended Aug. 16, from 3.59% a week earlier.
That was below the 4.15% average rate a year ago and this year’s 4.08% high in March. The economy’s growth, though still weak, has pushed up Treasury yields—in turn putting pressure on mortgage rates.
(Conor Dougherty, Wall Street Journal)