Rates on 30-, 15-Year Mortgages Edge Up

From Associated Press

The average rate on 30-year mortgages rose to 5.98% for the week ending today, up from 5.94% last week, Freddie Mac reported.

For 15-year mortgages, a popular option for refinancing, rates increased to 5.31% from 5.26% last week. Rates for one-year adjustable mortgages, however, averaged 3.73%, down slightly from last week's 3.74%.

The figures do not include add-on fees known as points. Each loan type carried an average fee of 0.7 point this week.

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