(October 14, 2005) -- Freddie Mac reports a jump in the 30-year home loan rate to 6.03 percent from 5.98 percent during the past week, marking a six-month high. The one-year adjustable mortgage rate rose as well, climbing to a more than three-year high of 4.85 percent from 4.77 percent last week. Mortgage rates will continue to move upward due to soaring energy prices and concerns about inflation, making it more difficult for first-time buyers to achieve homeownership and less rewarding for adjustable-rate borrowers to switch to fixed-rate products. Freddie Mac chief economist Frank Nothaft believes the 30-year mortgage rate will hit 6.4 percent next year.
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