WASHINGTON – Rates on 30-year mortgages increased this week for the fourth time in the past five weeks.
Mortgage company Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.13 percent this week, up from 6.03 percent last week.
Rates on 30-year mortgages dropped below the 6 percent threshold in the second week of January and stayed there for six straight weeks as the economic slowdown stirred concerns about a possible recession.
The 6.13 percent reading on 30-year mortgages was the highest level since they averaged 6.24 percent two weeks ago. It marked the fourth straight week that 30-year mortgages have been above 6 percent.
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