30-Year Mortgage Rate Rises to 5.7%

Rates on 30-year fixed-rate mortgages averaged 5.7% this week, Freddie Mac said. That was up from 5.64% last week.

The rates hit a high this year of 6.34% the week of May 13. Since then, they had drifted lower as inflation fears had eased.

For 15-year fixed-rate mortgages, a popular option for refinancing, rates rose this week to 5.08%, up from 5.01% last week. For one-year adjustable-rate mortgages, rates averaged 4% this week, compared with 3.96% last week.