Rates edge higher awaiting QE2

The benchmark 30-year fixed-rate mortgage rose 4 basis points this week, to 4.46 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.34 discount and origination points. One year ago, the mortgage index was 5.19 percent; four weeks ago, it was 4.47 percent.

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