Mortgage Rates Rise This Week

Rates on 30-year fixed-rate mortgages averaged 5.62% this week, up from 5.57% last week, mortgage company Freddie Mac said.

Rates on 15-year fixed-rate mortgages, a popular option for refinancing, rose to 5.14% from 5.10% last week. Rates on one-year adjustable-rate mortgages rose to 4.15% from 4.11% last week.

Five-year hybrid adjustable-rate mortgages averaged 5.05% this week, up from 4.99% last week. These mortgages have a fixed rate for five years and then adjust each year after that.

The nationwide averages for mortgage rates do not include add-on fees known as points. The 30-year, 15-year and five-year mortgages each carried 0.7 point while the one-year ARM carried 0.8 point.