March 10, 2005
Mortgage Rates Hit 7-Month High
U.S. interest rates on 30- and 15-year mortgages rose to their highest levels since last August, according to a report issued on Thursday by mortgage finance company Freddie Mac.
U.S. 30-year mortgage rates rose to an average of 5.85 percent in the week ended March 10 from 5.79 percent in the previous week. It was the highest level for 30-year mortgage rates since a matching 5.85 percent in the week ended Aug. 12, 2004.
Fifteen-year mortgages also rose in the latest week, to an average of 5.38 percent from 5.33 percent. It was the highest level since 5.40 percent in the Aug. 5, 2004, week.
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