Mortgage rates were on an upswing this week, according to the latest data released by Freddie Mac.
The 30-year fixed-rate average rose to 3.4 percent with an average 0.7 point. It was up from 3.34 percent a week ago, but down from 3.89 percent this time last year. Despite the increase, the 30-year fixed rate has remained below 3.5 percent the past 16 weeks. The all-time low was 3.31 percent set Nov. 21.
The 15-year fixed-rate average also went up, climbing to 2.66 percent with an average 0.7 point. It was 2.64 percent a week ago and 3.16 percent a year ago. It has not been above 3 percent since May 24.