Rate climbs for 30-year mortgages
From Times wire services
Mortgage giant Freddie Mac reported that 30-year fixed-rate mortgages increased to an average of 6.37% nationwide this week from 6.21% last week.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, rose to 6.06%, up from 5.92% last week. Five-year adjustable-rate mortgages averaged 6.02%, up from 5.92%. One-year adjustable-rate mortgages rose to 5.64%, up from 5.48%.
These rates do not include add-on fees known as points. Thirty-year and 15-year mortgages both carried a nationwide average fee of 0.4 point. Five-year adjustable-rate mortgages carried a 0.5 point fee and one-year ARMs carried an average fee of 0.6 point.
