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NEW YORK (MarketWatch) -- The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 5.29% in the week ending Thursday, up from last week's 4.91% and down from the year-ago 6.09%, according to Freddie Mac's weekly survey. That rate is the highest since the week ended Dec. 11, 2008. The 15-year fixed-rate loan averaged 4.79%, up from the week-ago 4.53% and down from the year-ago 5.65%. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.85%, compared with 4.82% a week ago and 5.51% a year ago. One-year Treasury-indexed ARMs averaged 4.81% this week, up from last week's 4.69% and down from the year-ago 5.06%. The "30-year fixed-rate mortgage rates caught up to the recent rise in long-term bond yields this week to reach a 25-week high," said Frank Nothaft, Freddie Mac vice president and chief economist. |
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