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Mortgage Rates on Rollercoaster Ride; Rise Again After Coming Down in Late October
added: 2008-11-05

Mortgage rates rose last week, with rates for 30-year fixed mortgages increasing to 6.26 percent, up from 6.00 percent the week prior, according to the Zillow Mortgage Rate Monitor.

Rates for 15-year fixed mortgages rose to 6.01 percent, up from 5.64 percent and 5-1 adjustable rate mortgages rose to 5.81 percent from 5.64 percent.

Rates for 30-year fixed mortgages appeared to be up slightly on Monday evening with the average rate on Zillow Mortgage Marketplace at 6.33 percent.

At a state level, the 30-year fixed mortgage rate in Michigan saw the biggest increase, rising from 6.03 percent to 6.48 percent. Rates on 30-year fixed mortgages were lowest in the states of Oregon (6.12%) and Georgia (6.14%), while Michigan (6.48%) and Massachusetts (6.40%) had the highest rates.


Source: Zillow.com

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