April 19, 2012 | last updated June 1, 2012 2:00 pm

30-year mortgage rises to 3.90 percent

The average rate on the 30-year fixed mortgage stayed near its lowest level on record, keeping home-buying and refinancing affordable, The Associated Press reports.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan rose to 3.90 percent from 3.88 percent. The rate touched 3.87 percent in February, which was the lowest since long-term mortgages began in the 1950s.

The 30-year loan is the most common financing option for home buyers.

The 15-year mortgage, which is popular with those refinancing, rose to 3.13 percent from 3.11 percent, an all-time low.

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