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November 12, 2009

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Mortgage rates rise

Friday, Nov. 23, 2001 | 10:09 a.m.

WASHINGTON -- Mortgage rates around the country rose this week after 30-year mortgage rates recently dropped to their lowest level in 30 years of record keeping.

The average interest rate on 30-year fixed-rate mortgages climbed to 6.75 percent from 6.51 percent last week, according to a nationwide survey by Freddie Mac, the mortgage company.

Two weeks ago, 30-year mortgage rates fell to 6.45 percent, the lowest level since Freddie Mac began conducting its nationwide survey in 1971.

Even with the uptick, this week's rate of 6.75 percent marked the 15th week in a row that 30-year mortgages have been under 7 percent.

Fifteen-year mortgages, a popular option for refinancing, rose to 6.24 percent this week. That compared with 5.98 percent the previous week.

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