Mortgage rates increase this week but still low compared to last May

Mortgage rates rose this week to the highest level since the week of March 12. The 30-year, fixed-rate mortgage averaged 3.80% with an average 0.6 point for the week ending May 7, 2015, up from last week when it averaged 3.68%. A year ago at this time, the 30-year fixed rate mortgate averaged 4.21%. 

Source: Housing Wire

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