Positive economic news fueled the fourth consecutive week of rising mortgage rates, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 5.77 percent for the week ended today, up from last week when it averaged 5.73 percent. The average for the 15-year fixed-rate mortgage is 5.34 percent, up from last week when it averaged 5.32 percent. Points on both the 30- and 15-year averaged 0.5. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.27 percent this week, with an average 0.6 point, up slightly from last week when it averaged 5.26 percent. The one-year Treasury-indexed ARM averaged 4.46 percent, with an average 0.6 point, up from last week when it averaged 4.42 percent. The last time the one-year ARM was higher was the week ending July 19, 2002, when it averaged 4.5 percent. "Although inching upwards, the average 30-year fixed-rate mortgage rate for the month of July was lower than ...
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