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Fixed Mortgage Interest Rate

Ahorre
The National Average commitment rate on a 30-year, fixed mortgage increased to 6.49 percent from 6.43, marking the highest long-term mortgage rates in nearly four years, according to Freddie Mac.

The 30-year fixed-rate mortgage has not been higher since the week ending July 12, 2002, when it averaged 6.54 percent.

The national average commitment rate on a 15-year, fixed mortgage also bumped up to 6.14 percent from last week's 6.10 percent.

The national average commitment rate, along with fees and points charged by lenders, reflects the cost of obtaining a mortgage.

The average rate on a five-year adjustable-rate mortgage also increased to 6.13 percent this week from 6.11 percent last week, while the average rate on a one-year ARM also edged up to 5.61 percent from 5.57 percent last week.

“Mortgage rates continued to creep up following the unexpected drop in March’s unemployment rate," says Frank Nothaft, Freddie Mac vice president and chief economist. "That drop indicated there may be some upward pressure on wages in the near future, which could lead to a rise in inflation.”

Hipotecas Prestamos April 14, 2006 03:39 PM

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