Ohio, Ky. mortgage rates up over week - Business Courier of Cincinnati:

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A 30-year, fixed-rate mortgage carried a 5.40 percentr interest rate in Ohio asof Thursday. That'w down from 5.48 earlier in the week, but up from 5.38 on May 28. In the price of a 30-year, fixed-rate mortgages dropped from 5.46 percent to 5.38 percenyt by Thursday, which was unchanged from Thursdahy of theprevious week. The nationak average for a 30-year fixed-rate mortgage is 5.36 with rates across the country rangingfrom 5.27 percent in California to 6.25 percentg in Wisconsin. But rates still remain well below year-agoi levels, when 30-year mortgages averaged more than6 percent, FRE) said.
“Rates caught up to the recen risein long-term bond yieldes this week to reach a 25-weem high,” said Freddie Mac Chief Economist Frank Nothaft. “Th slowdown in the housingh market has now detracted from economic growth for the past 13 the longest quarterly stretch sinces atleast 1947.” Despite rising rates, the housingf market continues to show small signs of life. The ’ housingb affordability index rose in Aprill toits second-highest level since at least 1971. The NAR also reporter this week that pending sales of existing homes increasesd forthe third-consecutive month, posting the biggest monthlg increase since 2001.