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AP News

News Summary: 30-year mortgage rate at 3.53 pct.

RATES UP BUT STILL LOW: The average U.S. rate on the 30-year fixed mortgage rose this week to its highest level in four months but remains low by historical standards.

THE NUMBERS: The rate on the 30-year loan increased to 3.53 percent. That's up from 3.42 percent last week and the first time the rate has exceeded 3.50 percent since September. The average for the 15-year fixed mortgage advanced to 2.81 percent from 2.71 percent.

TRACKING TREASURY YIELD: Mortgage rates tend to track the yield on the 10-year Treasury note. It rose to 2 percent Thursday, up from 1.85 percent a week ago.

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