Mortgage rates hit highest level in over a year

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 climbed to 6.69% from last week's reading of 6.66%. The average rate on a 30-year loan was 6.63% a year ago.A TALE OF TWO HOUSING MARKETS: LUXURY DEMAND SURGES AS AFFORDABILITY SQUEEZES STARTER-HOME BUYERS"While mortgage rates continue to influence affordability, the housing market is s