After hovering below 3% for the past 2½ months, the 30-year fixed mortgage rate average crossed that hurdle this week.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 3.02% with an average 0.7 point. (Points are fees paid to a lender equal to 1% of the loan amount. They are in addition to the interest rate.) It was 2.93% a week ago and 3.13% a year ago.