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President Barack Obama is delivering the commencement address at Morehouse College, the historically black, all-male institution that counts Martin Luther King Jr. among its alumni.more>> President Barack Obama, in a soaring commencement address on work, sacrifice and opportunity, on Sunday told graduates of historically black Morehouse College to seize the power of their example as black men graduating from...more>> Investigators will look closely at a broken section of rail to see if it is connected to the commuter train derailment and collision outside New York City that left dozens injured. Meanwhile, the focus begins to...more>> Tens of thousands of commuters are bracing for a difficult trip around southwest Connecticut and to New York City beginning Monday as workers repair the Metro-North commuter rail line crippled by a derailment and crash.more>> It's all about the odds, and one lone ticket in Florida has beaten them all by matching each of the numbers drawn for the highest Powerball jackpot in history at an estimated $590.5 million, lottery officials...more>> Some lucky person walked into a Publix supermarket in suburban Florida over the past few days and bought a ticket now worth an estimated $590.5 million - the highest Powerball jackpot in history.more>> In what police are describing as a crime of opportunity, a wanted man with a criminal history dating nearly 15 years entered a front door that had been left open at a New York home near Hofstra University.more>> The police officer who accidentally killed a Long Island college student along with an armed intruder faced the most harrowing decision of a law enforcement career: choosing the split-second moment when the risk is so high...more>> "Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's...more>> "Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's expectations.more>> The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.more>> The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.more>> The president and CEO of The Associated Press says the government's seizure of AP journalists' phone records was "unconstitutional" and already has had a chilling effect on newsgathering.more>> The president and CEO of The Associated Press says the government's seizure of AP journalists' phone records was "unconstitutional" and already has had a chilling effect on newsgathering.more>> President Barack Obama will address the legality of his administration's controversial drone program during a speech this week.more>> President Barack Obama will discuss the legality of his administration's secret drone program and other counterterrorism practices during a speech Thursday, a White House official said.more>> By MESFIN FEKADU AP Music Writer They battle it out weekly on the Billboard charts, and now they're competing at the Billboard Music Awards.more>> By MESFIN FEKADU AP Music Writer They battle it out weekly on the Billboard charts, and now they're competing at the Billboard Music Awards.more>> The judge ascended the bench. He looked down at cafeteria-style tables marked "Prosecuting Attorney" and "Defense Attorney." To his left, two men sat in a box marked "Jury." The witness stand was marked "Witness."more>> The judge ascended the bench. He looked down at cafeteria-style tables marked "Prosecuting Attorney" and "Defense Attorney." To his left, two men sat in a box marked "Jury." The witness stand was marked "Witness."more>>
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WASHINGTON (AP) - Average U.S. rates on fixed mortgages ticked up for the third straight week, staying slightly above record lows. Cheap mortgages have helped fuel a modest housing recovery this year.
Mortgage buyer Freddie Mac said the rate on the 30-year loan increased to 3.62 percent, up from 3.59 percent last week. Three weeks ago, the rate fell to 3.49 percent, the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year fixed mortgage, a popular refinancing option, rose to 2.88 percent. That's up from 2.84 percent last week and record low of 2.80 percent three weeks ago.
The availability of low rates has lifted home sales higher this year. Home prices have also increased, largely because the supply of homes has shrunk while sales have risen.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
