30-Year Mortgage Rates Rise Above 6%
From Associated Press
Rates on 30-year fixed-rate mortgages averaged 6.01% for this week, up from 5.95% last week and the highest since the week that ended July 27, when rates averaged 6.08%, mortgage company Freddie Mac said.
Rates on 15-year fixed-rate mortgages, a popular option for refinancing, rose to 5.56%, up from 5.47% last week. Five-year hybrid adjustable-rate mortgages averaged 5.35%, up from 5.31% last week. Rates on one-year adjustable-rate mortgages increased to 4.24%, compared with 4.20% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year mortgages, 15-year mortgages and five-year ARMs each carried a fee of 0.7 point. The one-year ARM had a financing fee of 0.8 point.
