NEW YORK CITY-Fixed mortgage rates have increased this week compared to mortgage rates in the previous week. Freddie Mac has said that the average value for 30-year fixed mortgages edged up from 4.76% to 4.81% this week.
The average value for 15-year fixed loans rose from 3.97% to 4.04%. Mortgage rates have increased due to the rise in the yield of Treasury note. Sales of formerly occupied homes dropped to 9.6% in February.For the full story, go to San Francisco Chronicle.
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