By Gina Heeb
Mortgage rates climbed to the highest level in more than a month.
The average rate on the standard 30-year fixed mortgage rose to 6.32%, according to a survey of lenders released Thursday by the mortgage-finance company Freddie Mac. It was 6.12% a week ago.
That was the largest weekly increase in around six months.
Mortgage rates tend to move loosely in line with the 10-year Treasury yield. That rose above 4% this week, after surprisingly hot jobs data last Friday.
The Mortgage Bankers Association now expects mortgage rates to fluctuate within the 6% to 6.5% range "for the next several months," chief executive Bob Broeksmit said Thursday.
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(END) Dow Jones Newswires
October 10, 2024 12:00 ET (16:00 GMT)
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