30-Year Mortgage Rate Rises to 6.96%
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Bloomberg News
The average rate on a 30-year fixed mortgage rose this week, while staying below 7% for the second straight week.
The 6.96% rate compares with a 6.83% rate the previous week, according to Freddie Mac, the No. 2 buyer of U.S. mortgages. It was the first increase in five weeks.
The rate on a one-year adjustable mortgage rose to 5.10% from 5.08% the previous week. The rate on a 15-year mortgage, a popular refinancing option, rose to 6.44% from 6.31%.
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