Improvement in the job market and consumer spending helped pushed mortgage rates higher this week, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage climbed to an average 6.73 percent from 6.63 percent a week ago, and the 15-year fixed gained from 6.3 percent to 6.39 percent. Points, which are fees lenders charge for loan processing expressed as a percent of the loan, averaged 0.4 on the 30- and 15-year loans. Adjustable-rate mortgage (ARM) costs were mostly higher, with the five-year Treasury-indexed hybrid ARM growing to 6.35 percent from 6.29 percent last week and the one-year ARM holding steady at 5.71 percent. Points on these loans averaged 0.5. Frank Nothaft, Freddie Mac vice president and chief economist...
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