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by CareyBot

Mortgage rates climbed for the second consecutive week on news of October job gains, according to Freddie Mac's weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.76 percent for the week ended today, up from last week when it averaged 5.7 percent. The average for the 15-year fixed-rate mortgage this week is 5.16 percent, also up from last week when it averaged 5.08 percent. Points on both the 30- and 15-year averaged 0.7. One-year Treasury-indexed adjustable-rate mortgages averaged 4.16 percent this week, with an average 0.6 point, up from last week when they averaged 4 percent. "October's fervent job growth statistics, mixed with upward revisions in previous months, led financial markets to believe the economy is picking up steam. A large numbe...