Posted at: 06/13/2013 2:05 PM
By The Associated Press
News Summary: US rate on 30-year loan at 3.98 pct.
RATES UP: Fixed U.S. mortgage rates rose for the sixth straight week, putting the average rate on the 30-year loan just shy of 4 percent.
THE NUMBERS: Mortgage buyer Freddie Mac says the rate on the 30-year mortgage increased to 3.98 percent from 3.91 percent last week. The rate on the 15-year loan advanced to 3.10 percent from 3.03 percent. Both rates were the highest since April 2012.
REASON: Concerns that the Federal Reserve will scale back its bond purchases have pushed rates higher. Still, mortgage rates remain low by historical standards.
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