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Fixed mortgage rates rise

Fixed mortgage rates rise

Posted by Liliana Castaño on April 24, 2014

Just as it looked as if mortgage rates were easing to spur the spring housing market, they reversed course, according to the latest data released Thursday by Freddie Mac.

After falling the past two weeks, the 30-year fixed-rate average rose to 4.33 percent with an average 0.6 point. It was 4.27 percent last week and 3.4 percent a year ago. The 30-year fixed rate has bounced around between last week’s low of 4.27 percent and a high of 4.53 percent since the first of the year.

The 15-year fixed-rate average jumped to 3.39 percent with an average 0.6 point. It was 3.33 percent a week ago and 2.61 percent a year ago.

Hybrid adjustable rate mortgages were unchanged. The five-year ARM average was 3.03 percent with an average 0.5 point, the same as a week ago. It was 2.58 percent a year ago.

The one-year ARM average was 2.44 percent with an average 0.5 point, same as it was a week ago.

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