Mortgage rate jumps past 4%

By Les Christie – March 22, 2012

NEW YORK (CNNMoney) — After many recent weeks where mortgage rates hit record lows, the 30-year rate jumped this week to its highest level since late October.

The 30-year fixed-rate mortgage, a popular choice for most homebuyers, hit 4.08%, according to Freddie Mac’s weekly survey. That’s 0.16 percentage points higher than a week earlier and its first time over the 4% mark since October.

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