Industry News

Real estate rates rise for sixth week

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Mortgage rates climbed for the sixth straight week, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage inched up to an average 6.59 percent, with an average 0.6 point, for the week ended today, up very slightly from last week's average of 6.58 percent. The 30-year fixed-rate loan 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 this week is 6.22 percent, with an average 0.6 point, also up very slightly from last week's average of 6.21 percent. The 15-year fixed-rate loan has not been higher since the week ending May 24, 2002, when it averaged 6.28 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 6.21 percent this week, with an average 0.7 point, unchanged from last week. The one-year Treasury-indexed ARM averaged 5.67 percent, with an average 0.8 point, down very slightly from last week...