30-Year Mortgage Rate Rises to 6.31%
From Associated Press
Mortgage giant Freddie Mac said the nationwide average for 30-year, fixed-rate mortgages rose this week to 6.31%, up from 6.15% last week.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.85%, up from 5.69% last week. One-year adjustable rate mortgages rose to 5.09%, up from 4.91% last week. Rates on five-year hybrid adjustable-rate mortgages averaged 5.76%, up from 5.63% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. The average fee nationwide for all four categories of mortgages last week was 0.5% of the loan’s value.
