Mortgage rates climb to 5.29 percent

A year ago, the 30-year fixed-rate mortgage averaged 6.52 percent

Rates on 30-year mortgages rose this week, remaining above 5 percent after reaching a record low earlier this year, Freddie Mac said Thursday.

The average rate on a 30-year fixed-rate mortgage was 5.29 percent this week, up from 5.22 percent last week, Freddie Mac said. Last year at this time, the 30-year fixed-rate mortgage averaged 6.52 percent.

Rates on 30-year mortgages dropped to a record low of 4.78 percent earlier this year, but have been above 5 percent since June.

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