Ohio, Ky. mortgage rates up over week - Phoenix Business Journal:

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A 30-year, fixed-rate mortgage carried a 5.40 percent interesgt rate in Ohio asof That's down from 5.48 earliere in the week, but up from 5.38 on May 28. In the price of a 30-year, fixed-rate mortgage dropped from 5.46 percent to 5.38 percenty by Thursday, which was unchangesd from Thursday of theprevious week. The nationaol average for a 30-yeae fixed-rate mortgage is 5.36 with rates across the countrh rangingfrom 5.27 percenty in California to 6.25 percent in Wisconsin.
But rates stil l remain well below year-ago levels, when 30-year mortgages averagedc more than6 percent, (NYSE: FRE) “Rates caught up to the recentf rise in long-term bond yieldxs this week to reach a 25-week said Freddie Mac Chief Economist Frank Nothaft. “Th slowdown in the housing marke t has now detracted from economi growth for the past13 quarters, the longestg quarterly stretch since at least 1947.” Despite risinfg rates, the housing markert continues to show small signs of life. The housing affordability index rose in Aprip toits second-highest level since at least 1971.
The NAR also reportec this week that pending sales of existing homes increased forthe third-consecutive month, posting the biggest monthly increase since 2001.