Mortgage Rates Reach 10-Month High

Summary


WASHINGTON (AP) - Rates on 30-year mortgages rose for a fourth straight week, hitting the highest level in 10 months, as bond markets responded to strong employment growth.

Mortgage giant Freddie Mac reported Thursday that 30-year, fixed- rate mortgages averaged 6.53 percent this week. That was up sharply from 6.42 percent last week and represented the highest point for 30- year mortgages since they averaged 6.55 percent on Aug. 10.

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Mortgage Rates Reach 10-Month High

Analysts attributed the increase to recent signs of economic strength outside ...

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