Mortgage Rates for 30-Year U.S. Loans Increase From Record Low
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U.S. mortgage rates climbed from the lowest level on record after better-then-expected economic data and optimism that Europe’s debt crisis will be contained drove up yields for the Treasuries that guide home loans.
The average rate for a 30-year fixed loan increased to 4.12 percent in the week ended today from 3.94 percent, Freddie Mac said in a statement today. That was the lowest in Freddie Mac records dating back to 1971. The average 15-year rate rose to 3.37 percent from 3.26 percent last week, according to the McLean, Virginia-based mortgage-finance company.