Home-mortgage rates took another leap this week, bringing the average rate on a 30-year fixed-rate mortgage to its highest in seven months, Freddie Mac reported Thursday.The 30-year fixed-rate mortgage averaged 5.59% for the week ended June 11, according to Freddie Mac’s weekly survey of conforming mortgage rates. That is up from 5.29% last week. The mortgage averaged 6.32% a year ago, and the rate hasn’t been higher since the week ending Nov. 26, when it averaged 5.97%…But while higher mortgage rates are slowing refinancing activity, they haven’t slowed demand for home purchases.
Staff Report, June 12, 2009, WSJ

 

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