US average mortgage rates rise slightly; 30-year at 2.87%

WASHINGTON (AP) — Mortgage rates edged marginally higher last week, continuing a pattern of little movement in recent weeks amid uncertainty over the effect of the delta coronavirus variant on the economic recovery. Average rates for home loans remain historically low at under 3%. Mortgage buyer Freddie Mac reports that the average for the 30-year mortgage ticked up to 2.87% from 2.86% last week. The rate for a 15-year loan rose to 2.17% from 2.16%. Worries are growing that the now-dominant delta variant is starting to cause an economic slowdown, uncertainty that has kept mortgage rates in a narrow band.