Mortgage Rates Move Back Up

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McLEAN, Va. -- After a brief respite, mortgage rates began to climb again this week, back to their highest level since the spring of 2002, Freddie Mac reported Thursday. The average 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 also moved higher, with the average for the one-year ARM rising to 5.80%, from 5.75% last week; and the average for the five-year ARM inching up to 6.36%, from 6.33%.

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