Business

Mortgage rates rise for fifth straight week, reaching 6.29%


Mortgage rates rose for a fifth straight week, once again hitting their highest levels since the financial crisis.

The average interest rate on a 30-year fixed mortgage has risen to 6.29%, according to a survey of lenders released Thursday by Freddie Mac. This is the second week in a row the rate topped 6%. The last time the rate was this high was in October 2008, when the US was in deep recession.



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