Article: U.S. rates on 30-year mortgages rise to 6.59 percent

U.S. rates on 30-year mortgages rise to 6.59 percent

WASHINGTON, May 4 (Xinhua) -- U.S. rates on 30-year fixed-rate mortgages climbed up this week for the sixth consecutive week to their highest level in nearly four years, mortgage giant Freddie Mac reported Thursday in its weekly nationwide survey.

In the week ending May 4, rates on 30-year fixed-rate mortgages averaged 6.59 percent, slightly up from 6.58 percent last week, according to the survey.

This week's rate was the highest point since the week to June 20, 2002, when 30-year mortgage rates stood at 6.63 percent.

The survey also showed that rates on 15-year, fixed-rate mortgages, a popular choice ...

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