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Report: 30-year Fixed Rate Unchanged, Other Rates Climb

While the 30-year fixed rate mortgage remained at a record low, ""data"":http://www.freddiemac.com/pmms/ released Thursday by ""Freddie Mac"":http://www.freddiemac.com/ reported other rates are steadily moving upward.

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""A strong January employment report added upward pressure to most mortgage rates this week,"" Frank Nothaft, VP and chief economist for Freddie Mac, said.

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""The economy gained 243,000 jobs last month, the largest monthly gain since April 2011, and the unemployment rate fell to 8.3 percent, which was the lowest since February 2009,"" Nothaft said.

The 15-year fixed rate averaged 3.16 (0.7 point) compared to 3.14 percent last week. The rate was 4.29 percent during this time last year.

The 5-year adjustable-rate mortgage (ARM) averaged 2.83 percent (0.7 point). Last week, it averaged 2.80 percent. The average is a decrease compared to 3.92 percent last year.

The 1-year ARM also increased, averaging at 2.78 percent (0.6) compared to 2.76 percent last year. The 1-year ARM averaged 3.35 percent during this time last year.

The 30-year fixed rate mortgage averaged 5.05 percent during this time last year.

To see rates by region, view the ""primary mortgage market survey"":http://www.freddiemac.com/pmms/data.html?type=popup&heig0ht=600&width=700&week=6&year=2012 results online.

About Author: Esther Cho

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