Consumer spending jolts mortgage rates

Mortgage rates climbed for the third straight week following recent reports that home sales and consumer spending performed better than expected in November, Freddie Mac and Bankrate.com reported today in their weekly surveys.

In Freddie Mac's survey, the 30-year fixed-rate mortgage climbed this week to an average 6.18 percent from 6.13 percent last week, and the 15-year fixed-rate mortgage gained from 5.89 percent to 5.93 percent.

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