US Mortgage Rates Increase for First Time in Nine Weeks
A sustained decline in mortgage rates would provide a boost for the housing market.
Photographer: Jordan Vonderhaar/BloombergThis article is for subscribers only.
The average US 30-year mortgage rate rose for the first time since early January, causing a pullback in refinancing and tempering purchase activity.
The contract rate on a 30-year mortgage climbed 5 basis points to 6.72% in the week ended March 14 from the lowest level this year, according to Mortgage Bankers Association data released Wednesday. The rate on a 15-year fixed mortgage also rose.