Mortgage Rates Mixed: The Federal Home Loan...

Mortgage Rates Mixed: The Federal Home Loan Mortgage Corp. reported that rates for 30-year, fixed-rate mortgages rose 0.04 percentage points last week while adjustable-rate mortgages fell 0.03 percentage points. The agency, which buys mortgages from lenders and packages them as securities for sale to investors, said interest on fixed-rate loans rose to 11.03% last week from 10.99% the week before. Adjustable-rate mortgages averaged 9.38%, down from 9.41% the previous week. The fixed-rate average is for a 30-year loan covering 80% of a home’s cost. The average adjustable-rate mortgage also is for 30 years but for 75% of the home price.