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Rates rise slightly but stay under 6%

From Times wire reports

Mortgage rates for 30-year home loans stood at an average of 5.87% for the week ended Friday, up slightly from 5.85% the previous week, but the average stayed below 6% for the fifth straight week, according to Freddie Mac.

Fifteen-year mortgages averaged 5.17%, compared with 5.15% the week before, while one-year adjustable-rate mortgages averaged 3.76%, up slightly from 3.72%.

A year ago, 30-year mortgages averaged 5.95%, 15-year mortgages, 5.33% and the one-year ARM, 4.03%.


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