RATES RISING
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Richard Wilner
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Published
June 8, 2008, 8:13 a.m. ET
One week after the yield on the 10-year note broke through 4 percent, fixed-rate mortgages tacked on six basis points to reach a national average price of 6.26 percent, according to bankrate.com
Rates on 15-year mortgages also gained.
At the same time, mortgage applications plunged, according to the Mortgage Bankers Association, falling 15.3 percent.