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US mortgage rates increased this week with 30-year at 4.17%

US long-term mortgage rates increased this week, though they remain lower than a year ago in a positive sign for home sales

Josh Boak, AP Economics Writer

In this Friday, April 12, 2019 photo, a newly built waterfront home is shown for sale in Surfside, Fla. On Thursday, April 18, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Wilfredo Lee)

WASHINGTON (AP) -- U.S. long-term mortgage rates increased this week, though they remain lower than a year ago in a positive sign for home sales.

Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage rose to 4.17% from 4.12% last week and 4.47% a year ago. Average mortgage rates have been trending downward since peaking at nearly 5% in November, helping to increase home sales after a rough 2018.

The average rate this week for 15-year, fixed-rate home loans rose to 3.62% from 3.60%.