Mortgage Rates Inch Up For Second Week

Mortgage rates nationally posted a small weekly increase of 4/100's of a point. Here is the story.

NEW YORK, Sept 22, 2005 /PRNewswire-FirstCall via COMTEX/ -- Mortgage rates increased slightly as the Federal Reserve raised short-term interest rates for the eleventh consecutive time, and oil prices remained volatile. The average 30-year fixed rate mortgage increased from 5.84 percent to 5.88 percent, according to Bankrate.com's weekly national survey of large lenders. The 30-year fixed rate mortgages in this week's survey had an average of 0.36 discount and origination points.