Mortgage rates climb to 6.13%
WASHINGTON - Rates on 30-year mortgages increased this week for the fourth time in the past five weeks.
Freddie Mac, the mortgage company, reported yesterday that 30-year fixed-rate mortgages averaged 6.13 percent this week, up from 6.03 percent last week.
Rates on 30-year mortgages dropped below 6 percent in the second week of January and stayed there for six weeks as the economic slowdown stirred concerns about a possible recession.
However, in the past month, bond markets have grown worried about rising inflation pressures that are coming as the economy slows.
The 30-year mortgages averaged a 6.24 percent rate two weeks ago. 