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Mortgage Rates Spike as Treasury Yields Rise

June 16 2007 06:16

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.74 percent with an average 0.4 point for the week ending June 14, 2007, up from last week when it averaged 6.53 percent. Last year at this time, the 30-year FRM averaged 6.63 percent. The 30-year FRM has not been higher since the week ending July 20, 2006, when it averaged 6.80 percent.