Industry News

Real estate rates tick higher

Experts predict slight growth through year-end

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Mortgage rates increased again this week, as the bond market remained rattled from the latest inflation report indicating stronger-than-expected growth, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage rose to an average 6.62 percent for the week ended today, up from last week's average of 6.6 percent. The 30-year fixed has not been higher since the week ending June 20, 2002, when it averaged 6.63 percent. The average for the 15-year fixed-rate mortgage is 6.23 percent, up from last week's average of 6.2 percent. Points on both the 30- and 15-year fixed averaged 0.4. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 6.21 percent this week, with an average 0.6 point, down from last week when it averaged 6.23 percent. The one-year Treasury-indexed ARM averaged 5.61 percent, with an average 0.7 point, down slightly from last week when it averaged 5.62 percent. "Currently, mortgage rat...