Industry News

Real estate rates end week higher

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Mortgage rates climbed this week after barely budging in the previous Freddie Mac survey, the company reported today. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.32 percent for the week ended today, up from last week's average of 6.26 percent. The average for the 15-year fixed-rate mortgage this week is 5.87 percent, up from last week when it also averaged 5.81 percent. Points on both the 30- and 15-year averaged 0.6. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.78 percent this week, with an average 0.7 point, up slightly from last week when it averaged 5.76 percent. The one-year Treasury-indexed adjustable-rate mortgage averaged 5.16 percent, with an average 0.8 point, unchanged from last week. "Looking back at 2005, 30-year fixed-rate mortgage rates averaged just about the same as they have for the last two years," said Frank Nothaft, Freddie Mac vice president and chief economist. "Since the 30-year fixed-rate is the most popula...