Interest rates continue to trend higher
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Rates on 30-year fixed-rate mortgages rose for a third straight week, hitting the highest level in more than three months, according to mortgage company Freddie Mac.
The interest rate averaged 6.24% this week, up from 6.04% last week.
Rates on 15-year mortgages, a popular choice for refinancing, rose to 5.72%, up from 5.64% last week. Rates on five-year adjustable-rate mortgages rose to 5.43%, up from 5.37% last week.
Rates on one-year adjustable-rate mortgages climbed to 5.11%, compared with 4.98% last week. The rates do not include add-on fees known as points.
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