Mortgage rates increase slightly

Mortgage rates increase slightly

WASHINGTON

Average U.S. mortgage rates rose slightly this week, but the benchmark 30-year low remained very close to the 19-month low hit last week.

Mortgage company Freddie Mac said Wednesday that the nationwide average for a 30-year mortgage edged up to 3.83 percent this week from 3.80 percent last week, which had been the lowest level since May 2013.

Other mortgage rates also were up by small amounts, but all remained near historically low levels that should be a boon to potential homebuyers.

The average for a 15-year mortgage, a popular choice for people who are refinancing, stood at 3.10 percent, compared with 3.09 percent last week.

The rate for a one-year adjustable-rate mortgage rose to 2.39 percent, compared with 2.38 percent last week.

Unions reach out to immigrants

CHICAGO

Unions across the U.S. are reaching out to immigrants affected by President Barack Obama’s recent executive action, hoping to expand their dwindling ranks by recruiting millions of workers who entered the U.S. illegally.

Labor leaders say the president’s action, which curbs deportation and gives work permits to some 4 million immigrants, will give new protection to workers who have been reluctant to join for fear of retaliation.

Associated Press