NEW YORK - Interest rates on U.S. 30-year fixed-rate mortgages rose 0.02 percentage point in the latest week, according to a survey released on Thursday by home funding company Freddie Mac (FRE.N).
Interest rates on the 30-year fixed-rate mortgage averaged 5.14 percent, with an average 0.7 point, for the week ending Aug. 27, up from the previous week's 5.12 percent.
The mortgage rate was significantly higher than the record low of 4.78 percent set the week ending April 2. Freddie Mac started the Primary Mortgage Market Survey in 1971.
Long-term mortgage rates were barely changed this week, remaining historically low, which is helping to sustain a high level of affordability in the home-purchase market, Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement. (Editing by James Dalgleish)