US Mortgage Rates Climb for a Second Week, Reaching 6.34% (1)

Mortgage rates in the rose for a second straight week.

The average for 30-year, fixed loans was 6.34%, up from 6.3% last week, Freddie Mac said in a statement.

Homebuyers may have started to respond to mortgage rates that are significantly lower then they were at midyear. Contracts to purchase resale homes climbed in August to a five-month high, the National Association of Realtors reported this week. But many house hunters remain on the sidelines, waiting for borrowing costs to fall further or concerned about the job market and where the economy is headed.

Mortgage rates and the ...