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The Honolulu Advertiser
Posted on: Friday, December 28, 2007

30-year mortgage rates increase to 6.17 percent

By Jeannine Aversa
Associated Press

WASHINGTON — Rates on 30-year and one-year mortgages climbed this week, while rates on some other home loans didn't budge.

Mortgage company Freddie Mac reported yesterday that 30-year fixed-rate mortgages averaged 6.17 percent this week. That was up from 6.14 percent last week and was the highest since the week of Nov. 21, when 30-year rates stood at 6.20 percent.

Just three weeks ago, 30-year rates had dipped below 6 percent, edging down to 5.96 percent, the lowest level in more than two years.

Rates on one-year adjustable-rate mortgages rose to 5.53 percent this week, compared with 5.51 percent last week.

Analysts blamed the rise in these rates on worries about inflation. Economic reports last week showed both a big jump in consumer spending and a big pickup in inflation for November.

Rates on 15-year fixed-rate mortgages averaged 5.79 percent this week, unchanged from last week. And, rates on five-year adjustable-rate mortgages stood at 5.90 percent this week.

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