Mortgage rates climb for first time in eight weeks

Rates for 15-year fixed mortgages averaged 3.76 percent this week, a hike of .21 percent from the previous week's average of 3.57 percent.

The average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages was 3.40 percent, compared to 3.25 percent the previous week. The one-year ARM average rate was 3.26 percent, unchanged from the previous week.

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The slight increase in mortgage rates could be just one sign of some growing confidence in the housing market. Even though new construction on single-family homes slid 1.1 percent last month, homebuilder confidence was up in November to its strongest level since June, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

However, the housing market still has a long way to go, as the average rates for every type of mortgage still lagged well behind average rates seen at the same time last year.