Mortgage Rates Rise Third Straight Week

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WASHINGTON – Long-term mortgage rates moved higher again this week, for the third straight week, according to Freddie Mac.

The average for the 30-year, fixed-rate loan moved up to 4.46% this week, from 4.40% last week; while the average for the 15-year, fixed-rate mortgage rose to 3.81%, from 3.77%.

ARM rates also moved higher, with the average for the five-year ARM climbing to 3.49%, from 3.45% and the average for the one-year ARM rising slightly to 3.23%, from 3.23% last week.

“Mortgage rates followed bond yields higher this week as recently released economic data suggest the economy may be stronger this quarter than the previous,” said Frank Nothaft, chief economist for Freddie Mac.

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