30-Year Rates Rise as Economy Slides
Rates on 30-year, fixed-rate mortgages rose this week as reports showed a worse-than-expected plunge in the nation’s gross domestic product and continuing elevated levels of jobless claims, Freddie Mac said Thursday.
The average rate on a 30-year mortgage increased to 5.15 percent this week from 5.07 percent last week. A year ago, such mortgages averaged 6.03 percent.
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