Rochester, NY 8/19/2009 11:07:43 AM
Freddie Mac (FRE) ,Business Briefs: 30-year mortgage rates rise to 5.29 percent
Freddie Mac FRE
The Freddie Mac 30 year credit charge increase near 5.29 percent .Freddie Mac Rates on 30-year mortgages rise this above 5 percent after reaching a record low earlier this year,the average rate on a 30-year fixed-rate mortgage was 5.29 percent this week, up from 5.22 percent last week, Freddie Mac said. Last year at this time, the 30-year fixed-rate mortgage averaged 6.52 percent. Rates on 30-year mortgages dropped to a record low of 4.78 percent earlier this year, but have been above 5 percent since June.
Freddie Mac collects mortgage rates Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day. The average rate on a 15-year fixed-rate mortgage was 4.68 percent, an increase from 4.63 percent last week, Freddie Mac said. Rates on five-year, adjustable-rate mortgages averaged 4.75 percent, up from 4.73 percent last week. Rates on one-year, adjustable-rate mortgages dropped to 4.72 percent from 4.78 percent.
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