Mortgage Rates Increase This Week

Rates on 30-year fixed-rate mortgages averaged 5.63%, up from 5.56% last week, Freddie Mac reported.

For 15-year fixed-rate mortgages, a popular option for refinancing, rates rose to 5.22% from 5.14% last week. Rates on one-year adjustable-rate mortgages rose to 4.25% from 4.21%. For five-year hybrid adjustable-rate mortgages, rates rose to 5.1% from 5.01%.

The nationwide averages for mortgage rates do not include add-on fees known as points. The one-year mortgages had an average fee of 0.7 point, and the other three mortgage categories carried fees of 0.5 point.