U.S. mortgage rates rose for the first time in five weeks as a partial government shutdown delayed some borrowers from getting a loan.
The average rate for a 30-year fixed mortgage climbed to 4.23 percent from 4.22 percent, Freddie Mac said in a statement today. The average 15-year rate increased to 3.31 percent from 3.29 percent, according to the McLean, Virginia-based company.
The shutdown has lengthened the wait for some borrowers seeking mortgages backed by the Federal Housing Administration and Department of Agriculture. It also has postponed the release of economic-data reports, including the Department of Labor’s monthly employment figures, which Federal Reserve officials use to determine whether to continue stimulus efforts.