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Mortgage rates up again
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August 12, 1999: 1:22 p.m. ET
Rates climb as employment figures unnerve markets, Freddie Mac says
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NEW YORK (CNNfn) - Mortgage rates climbed yet again after last week's stronger-than-expected employment data upset markets, mortgage firm Freddie Mac reported Thursday.
For the week ending Aug. 13, the average rate on U.S. 30-year fixed-rate mortgages was 8.15 percent, up from last week's 7.89 percent. One year ago, the rate was 6.91 percent.
Fifteen-year loan rates rose to 7.70 percent from 7.45 percent the week before. The rate for these mortgages averaged 6.60 percent for the same period last year.
One-year adjustable-rate mortgages were 6.24 percent, up from last week's 6.09 percent. A year ago, the rate was 5.60 percent.
(Click here to see a breakdown of average mortgage rates by U.S. region.)
"The stronger-than-expected employment market rattled markets a little last week, continuing to raise fears of action by the Federal Reserve," said Robert Van Order, Freddie Mac's chief economist. "An economic climate like that generally results in higher interest rates, and that is what we saw in this week's... results."
Van Order expects the pending Producer Price Index and Consumer Price Index to "greatly influence where mortgages go from here." 
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