Average 30-year mortgage rate rises to 4.03 percent

WASHINGTON (AP) — Long-term U.S. mortgage rates rose this week for the first time in five weeks. The benchmark 30-year rate pushed back above the key threshold of 4 percent.

Mortgage buyer Freddie Mac says the average rate on 30-year fixed-rate home loans increased to 4.03 percent from 3.97 percent last week. The rate stood at 3.66 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971.

The rate on 15-year mortgages rose to 3.27 percent from 3.23 percent last week.

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