Finance

Freddie Mac 30-Year Rates Hit 25-Week High 

For the second consecutive week, mortgage rates rose, driven by an increase in bond yields, according to Freddie Mac’s [stock FRE][/stock] Primary Mortgage Market Survey. Thirty-year fixed-rate mortgages increased to an average 5.29% with an average 0.7 point in the week ending June 4, marking the highest rate recorded since the week ending December 11, 2008. The 15-year fixed-rate mortgage averaged 4.79%, up from last week’s 4.53% average, but well below the 5.65% average a year ago at this time.