[tag]Freddie Mac[/tag] today released the results of its [tag]Primary Mortgage Market Survey[/tag] in which the 30-year fixed-rate mortgage (FRM) averaged 6.80 percent, with an average 0.5 point, for the week ending July 20, 2006, up from last week’s average of 6.74 percent. Last year at this time, the 30-year FRM averaged 5.73 percent. The last time the 30-year FRM was higher was the week ending May 24, 2002, when it averaged 6.81 percent.

“Financial markets were a bit jittery after core Consumer Price Index (CPI) figures for June were released that indicated inflation might still be a potential threat,” said Frank Nothaft, Freddie Mac vice president and chief economist. “If this were the case, the Fed would be more inclined to continue to raise rates this year. Mortgage rates reflected that thinking and rose accordingly.”

click here for article