US mortgage rates rose for the first time in five weeks, thwarting a budding recovery in housing demand and abruptly halting a recent flurry of home refinancing.
The contract rate on a 30-year mortgage climbed 12 basis points to 6.46% in the week ended Sept. 26, according to Mortgage Bankers Association data released Wednesday. Adjustable-rate and 15-year fixed mortgages also increased last week.