30-Year Mortgage Rates Highest in Seven Months

Rates on 30-year fixed-rate mortgages averaged 5.85% this week, up from 5.79% last week and the highest since Aug. 12, when the average also was 5.85%, Freddie Mac reported.

Rates on 15-year fixed-rate mortgages, a popular option for refinancing, rose to 5.38% from 5.33% last week. Rates on one-year adjustable-rate mortgages climbed to 4.24%, compared with 4.14% last week.

Five-year hybrid adjustable-rate mortgages averaged 5.22% this week, up from 5.17% last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. The 30-year, 15-year and five-year rates all carried a fee of 0.6 point. The one-year rate had a fee of 0.7 point.