Long-Term Mortgage Rates Rise to 5.77%
From Associated Press
Rates on 30-year fixed-rate mortgages rose to a nationwide average of 5.77% this week, up from 5.73% last week, mortgage giant Freddie Mac reported.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.34%, up from 5.32% last week. For one-year adjustable-rate mortgages, rates increased to 4.46%, compared with 4.42% last week. Rates on five-year hybrid adjustable-rate mortgages averaged 5.27%, up from 5.26% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year mortgages and 15-year mortgages each carried an average fee of 0.5 point this week. One-year ARMs and five-year ARMs carried an average fee of 0.6 point this week.
