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Long-Term Mortgage Rates Hit 6.3 Percent

POSTED: Thursday, November 3, 2005

UPDATED: 12:50 pm CST November 3, 2005

WASHINGTON -- Mortgage rates rose again during the past week.

Freddie Mac reported Thursday that the average for 30-year fixed mortgage rates stood at 6.31 percent -- up from 6.15 percent a week ago.

It was the highest level since 30-year mortgages were at 6.32 percent in June 2004.

A competing survey from Bankrate.com had 30-year fixed-rate mortgages increasing from 6.24 percent to 6.37 percent.

The average for 15-year fixed-rate mortgages, which are popular for refinancing, rose to 5.85 percent, according to Freddie Mac.

A week ago, it stood at 5.69 percent.

Freddie Mac chief economist Frank Nothaft said news of an economy growing at a pace that's faster-than-expected gave financial markets a jolt and pushed mortgage rates higher again this week.

Previous Stories:

November 1, 2005: Fed Raises Rates For 12th Straight Time
October 20, 2005: 30-Year Mortgage Rates Hit 15-Month High
October 13, 2005: 30-Year Mortgage Rates Top 6 Percent
October 6, 2005: Mortgage Rates Rise On Inflation Jitters
September 29, 2005: Rates On 30-Year Mortgages Hit 5-Month High
September 15, 2005: Mortgage Rates Inch Higher
September 8, 2005: Rates On 30-Year Mortgages Hold Steady
August 18, 2005: Mortgage Rates Ease Slightly
August 11, 2005: Mortgage Rates Close In On 6 Percent

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