Mortgage rates are inching up as the
economy slowly improves. Rates for a 30-year fixed mortgage rose to an average of
3.62% for the week ended Aug. 16, from 3.59% a week earlier.
That was below the
4.15% average rate a year ago and this year’s 4.08% high in March. The
economy’s growth, though still weak, has pushed up Treasury yields—in turn
putting pressure on mortgage rates.
(Conor Dougherty, Wall Street Journal)
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