Inflation Jitters Drive Mortgage Rates Up

On Friday, Freddie Mac released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 6.37 percent with an average 0.5 point for the week ending October 12, 2006, up from last week when it averaged 6.30 percent. Last year at this time, the 30-year FRM averaged 6.03 percent.