Mortgage Rates Move Back Up

July 21, 2006, 1:00 a.m. EDT 1 Min Read

McLEAN, Va. - (07/21/06) -- After a brief respite, mortgagerates began to climb again this week, back to their highest levelsince the spring of 2002, Freddie Mac reported Thursday. Theaverage for the benchmark 30-year, fixed-rate loan rose to 6.84%this week, from 6.74% last week; while the average for the 15-year,fixed-rate mortgage moved to 6.41%, from 6.37%. ARM rates alsomoved higher, with the average for the one-year ARM rising to5.80%, from 5.75% last week; and the average for the five-year ARMinching up to 6.36%, from 6.33%.

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