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Again, Mortgage Rates Rise

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More than reversing a notable two-day drop, rates on 30-year mortgages roared back Thursday, surging almost a quarter percentage point higher to set a new historic record. Rates for every single mortgage type were up Thursday, with most averages rising by double-digit basis points. Mortgage Rates Rise Across the Board, Setting New Record for 30-Year Average Kelly Evans: Who is really raising rates in Washington?

30-Year Mortgage Rates Rise Again, Flirting with Historic Peak

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By SABRINA KARL , Investopedia Rates on 30-year mortgages rose again Monday, adding to the jump they saw Friday and pushing the flagship average almost back to the historic 22-year high it registered earlier this month. Averages for most other loan types were flat to mildly up Monday, with only a couple of averages declining. Rates on 30-year new purchase mortgages gained 6 basis points Monday, after jumping 16 basis points Friday. That raises the 30-year average to 7.82%, which is just barely below Sept. 7's historic reading of 7.84%—its highest mark since 2001. Monday rates on 15-year loans rose only a minor 2 basis points, nudging the average to 7.15%. Like 30-year rates, the 15-year average is now back within a couple of basis points of its recent peak—a 21-year high of 7.17% reached in mid-August. Jumbo 30-year rates held steady for a second day Monday, at the average's high-water mark of 7.02%. Though daily jumbo averages are not available before 2009, it's reasonable...