Mortgage rates rise

The 30-year average fixed-rate mortgage rose markedly in the week ending yesterday, going from 6.21 percent to 6.37 percent, according to Freddie Mac. Freddie Mac said the 15-year rate also rose, up from 5.92 percent to 6.06 percent. Strong consumer confidence and comments from the Federal Reserve persuaded the market that a Fed rate cut was unlikely this year, according to Freddie Mac’s chief economist. more [Post]