Jun. 7, 2007 - Mortgage rates climb

Rates reach a 10 Month High

Mortgage rates increased for the sixth consecutive week, with the average 30-year fixed mortgage rate hitting a 10-month high of 6.61%.

The average 15-year fixed rate mortgage, popular for refinancing, increased by a similar amount, to 6.33%. With larger loans, the average jumbo 30-year fixed rate climbed to 6.86%. Even adjustable rate mortgages were in on the act, with the average one-year ARM rising to 6.17% and the 5/1 ARM jumping to 6.52%.

For more information go to Bankrate.com