Mortgage rates edge up from record lows

Fixed mortgage rates ticked up last week but remain near lows for the year, according to Freddie Mac's weekly survey of lenders.

The average rate for a 30-year loan hit 3.83 percent, up from its 2014 low of 3.8 percent last week, the mortgage finance giant said Wednesday. Lenders, on average, offered a 15-year fixed mortgage for 3.10 percent, compared to 3.09 percent a week earlier.

Experts expected mortgage rates to climb this year, but instead they're closing out below 2013 levels. A year ago, lenders offered a 30-year-fixed mortgage at 4.48 percent.

A variety of factors have pushed the cost of money down, including concerns over global economies.

Freddie Mac's survey asks lenders each week about the terms they offer low-risk borrowers on loans up to $417,000.

Actual rates are influenced by many factors, including a borrower's debt load and credit history.

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