EUA: Mortgage rates tilt higher

[notiCIas]

Mortgage rates tilt higher

Rates advance for a second straight week as 30-year hits 5.69%, 15-year up to 5.22%.

February 24, 2005: 11:09 AM EST

NEW YORK (CNN/Money) - Long-term mortgage rates rose for the second straight week, Freddie Mac said Thursday.

In the week ending Feb. 24, the average rate on 30-year fixed-rate mortgages rose to 5.69 percent, with an average 0.7 of a point payable up front, from 5.62 percent the previous week.

A year ago, the average rate on the 30-year fixed-rate loan stood at 5.58 percent.


The 15-year mortgage rate averaged 5.22 percent, with a 0.7 percent payable up front, up from 5.14 percent in the previous week.

A year ago, the 15-year rate averaged 4.89 percent.