Would-be home buyers were disappointed this week when mortgage rates that had been sliding went up.
It was reported that 30-year, fixed rate mortgages, which were at 5.96% last week, their lowest in more than two years, averaged 6.11% this week. On 15-year fixed-rate mortgages the rates rose from 5.65% last week to 5.78%.
The rates increased to 5.89% on five-year adjustable rate mortgages form 5.75%; and one-year ARMs moved up to 5.50%.
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