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Feb 23, 10:15 AM EST

US average 30-year mortgage rate edges up to 4.16 percent


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Long-term mortgage rates rise slightly this week

US average 30-year mortgage rate edges up to 4.16 percent

WASHINGTON (AP) -- Long-term U.S. mortgage rates rose slightly this week, continuing a holding pattern that has prevailed this month.

Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate loans edged up to 4.16 percent from 4.15 percent last week. The benchmark rate stood at 3.62 percent a year ago and averaged 3.65 percent through 2016, the lowest level in records dating to 1971.

The rate on 15-year mortgages rose to 3.37 percent from 3.35 percent last week.

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