Mortgage Rates Resume their Ascent

After two weeks of declines, mortgage rates resumed their upward march this week.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average increased to 3.85 percent with an average 0.8 point. (A point is a fee paid to a lender equal to 1 percent of the loan amount. It is in addition to the interest rate.) It was 3.76 percent a week ago and 3.05 percent a year ago.