News Summary: US rate on 30-year loan at 3.98 pct.

AP News
Posted: Jun 13, 2013 2:22 PM

RATES UP: Fixed U.S. mortgage rates rose for the sixth straight week, putting the average rate on the 30-year loan just shy of 4 percent.

THE NUMBERS: Mortgage buyer Freddie Mac says the rate on the 30-year mortgage increased to 3.98 percent from 3.91 percent last week. The rate on the 15-year loan advanced to 3.10 percent from 3.03 percent. Both rates were the highest since April 2012.

REASON: Concerns that the Federal Reserve will scale back its bond purchases have pushed rates higher. Still, mortgage rates remain low by historical standards.