US average mortgage rates edge up; 30-year at 4.86 percent

US average mortgage rates edge up; 30-year at 4.86 percent
FILE- In this Oct 2, 2018, file photo a for sale sign stands outside a home on the market in the north Denver suburb of Thornton, Colo. On Thursday, Oct. 25, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/David Zalubowski, File)

Long-term U.S. mortgage rates edged slightly higher this week amid continued anxiety in financial markets as interest rates rise.

Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages ticked up to an average 4.86 percent this week from 4.85 percent last week. A year ago, it stood at 3.94 percent.

The average rate on 15-year, fixed-rate loans rose to 4.29 percent this week from 4.26 percent last week.