Mortgage rates climb for 30-year loans to 6.37%

The LA Times reports today that mortgage rates continue to climb a bit, up from 6.6% last week. Interestingly, even though there’s bound to be more profit in ARMS, the industry charges more points for them and pays more to Mortgage Brokers. Points for 15 and 30-year mortgages average 0.5 pays points, one-year ARMS are at 0.7, and five-year ARMS at 0.6.

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