Mortgage Rates Rise as 30-Year Surpasses 4%









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Mortgage rates increased for the second consecutive week, according to data released Thursday by Freddie Mac.

The government-sponsored enterprise said in a press release that rates on 30-year fixed mortgages increased 4 basis points, to 4.02%. Interest rates on 15-year mortgages were up 8 basis points, to 3.21%.

Adjustable-rate mortgages also increased. Five-year, Treasury-indexed loans rose 3 basis points, to 2.97%, while one-year ARMs climbed 2 basis points, to 2.45%.

“Mortgage rates continued to rise this week with the 30-year fixed-rate mortgage eclipsing the 4% mark,” said Frank Nothaft, the Freddie Mac’s chief economist, in the release.

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