Mortgage Rates Climb for Fifth Straight Week

The average rate on 30-year fixed-rate mortgages was 5.94% this week, up sharply from last week’s rate of 5.67%, and it was the fifth consecutive increase, mortgage giant Freddie Mac said.

For 15-year fixed-rate mortgages, a popular option for refinancing, the average rate jumped to 5.27% from 5% last week.

The mortgage rates do not include add-on fees known as points. Thirty-year loans carried an average fee of 0.4 of a point; 15-year and one-year adjustable mortgages had an average fee of 0.5 of a point.