Rates on 30-year mortgages climb for 10th consecutive week

Rates on 30-year mortgages climb for 10th consecutive week: "WASHINGTON -- Nov. 18, 2005 -- Rates on 30-year mortgages edged up slightly this week, posting the 10th consecutive increase and keeping rates at the highest level in more than two years.

Mortgage giant Freddie Mac reported Thursday that the nationwide average for 30-year, fixed-rate mortgages rose to 6.37 percent, slightly higher than last week's 6.36 percent average.

Both weeks represented the highest level since 30-year mortgages were at 6.44 percent in early September 2003.

The 30-year mortgage is now nearly a full percentage point above its low-point of this year of 5.53 percent set the week of June 30. But analysts said even with the increases the 30-year and adjustable rate mortgages remain well below their averages over the past decade.
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