Freddie Mac said U.S. 30-year mortgage rates averaged 5.89% in the week ended Friday, up from 5.83% the prior week. The average rate on 15-year mortgages rose to 5.22% from 5.17%. One-year adjustable rates averaged 3.77%, up from 3.72%.
Applications for U.S. mortgages rose 16.9% to their second highest level since the Mortgage Bankers Assn. began surveying in 1990. Refinancing applications rose 27.8%.