Article updated: 1/31/2013 9:40 AM

U.S. mortgage rates rise with 30-year highest in four months

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U.S. mortgage rates rose for a second week, increasing borrowing costs as tight supplies of listings drive up home prices.

Associated Press

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U.S. mortgage rates rose for a second week, increasing borrowing costs as tight supplies of listings drive up home prices.The average rate for a 30-year fixed mortgage was 3.53 percent in the week ended today, up from 3.42 percent and the highest since September, McLean, Virginia-based Freddie Mac said in a statement. The average 15-year rate rose to 2.81 percent from 2.71 percen t.