30-year mortgage rates climb to 6.13%

The Associated Press
Last updated: March 14th, 2008 01:23 AM (PDT)

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.

Originally published: March 14th, 2008 01:23 AM (PDT)