Jumbo Mortgage

Mortgage Rates Hit Seven-Month High, Refi Stalls 

For the third consecutive week, mortgage rates climbed, driven again by an increase in bond yields, according to Freddie Mac’s [stock FRE][/stock] Primary Mortgage Market Survey. 30-year fixed-rate mortgages increased from 5.29% to an average 5.59% with an average 0.7 point for the week ending June 11, marking the highest rate recorded since the end of November, 2008. The 15-year fixed-rate mortgage averaged 5.06 this week, up from last week’s 4.79% average, but still well below the 5.93% average last year at this time.