Mortgage Rates Move Up Slightly

The average rate on 30-year, fixed-rate mortgages rose to 5.52% this week, up from 5.40% last week, Freddie Mac reported.

For 15-year, fixed-rate mortgages, a popular option for refinancing, rates increased to 4.84% from 4.70% last week.

Rates for one-year adjustable mortgages moved up this week to 3.46%, compared with 3.36% last week, which had been the lowest since Freddie Mac began tracking rates on one-year ARMs in 1984.

The nationwide averages for mortgage rates do not include add-on fees known as points. Each loan type carried an average fee of 0.6 point this week.