Mortgage Rates Rise This Week
Associated Press
The average interest rate on 30-year fixed-rate mortgages rose to 7.21% for the week ending today, up from 7.19% last week, Freddie Mac said. Fifteen-year mortgages, a popular option for refinancing, increased to 6.76% from 6.74%.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.79%, up from 5.71% the week before.
These rates do not include add-on fees known as points, which averaged 1% of the loan amount for all three types of mortgages.
