US long-term mortgage rates rise; 30-year at 3.01%

WASHINGTON (AP) — Average rates on long-term mortgages rose this week for the first time since June 25, after weeks of marking new record lows. Mortgage buyer Freddie Mac says the average rate on the key 30-year home loan increased to 3.01% from 2.98% last week _ the first time in 50 years that it slipped below 3%. Homebuying demand continues to rebound despite the stagnant recovery and economic indicators pointing to slow growth and possible persistent high unemployment, Freddie Mac says.