Mortgage rates climb for second straight week

Mortgage rates rose this week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage increased to 6.34% from last week's reading of 6.3%. The average rate on a 30-year loan was 6.12% a year ago.NEARLY 1 IN 5 AMERICAN HOMES SLASH PRICES AS BUYERS GAIN UPPER HAND IN SHIFTING MARKET"The 30-year fixed-rate mortgage increased again this week but remains below its 52-week average of 6.71%," said Sam Khater, Freddie Mac’s chief economist. "The last few months have brought lower r