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Article posted on 09/10/10
Author: Kelly Curtis



Mortgage Rates Rise for the First Time Since June

Freddie Mac's weekly report on mortgage interest rates was released Thursday, and the average rate for a 30 year fixed-rate mortgage rose for the first time in weeks. The average rate for the 15 year fixed-rate, meanwhile, went unchanged.

Analysts say that while overall employment was down in August, private payrolls had actually expanded, and the previous two months' numbers have been revised upwardly. The mixed news on the job front is believed to have impacted interest rates.

The average for the 30 year, according to the weekly report from Freddie Mac, was at 4.53 percent for the week ending September 9th, up from 4.32 percent the week before. Its the first rise for the rate since the week ending June 17th, , but still well below the 5.07 percent average rate for a 30 year for the same week in 2009. The average for the 15 year, meanwhile, remained at a record-low 3.83 percent, which it set last week. The 15 year averaged 4.5 percent in the same week last year.




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