Rates on 30-Year Mortgages Rise Again

From Associated Press

The nationwide average for rates on 30-year fixed-rate mortgages rose to 5.8%, up from 5.74% last week, mortgage company Freddie Mac reported.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 5.37%, up from 5.32% last week. One-year adjustable-rate mortgages rose slightly to 4.48% from 4.46%, while rates on five-year hybrid adjustable-rate mortgages averaged 5.31%, up from 5.26%.

The nationwide averages for mortgage rates do not include add-on fees known as points. One-year ARMs and 15-year mortgages carried a fee of 0.7 point, while the 30-year mortgage had a nationwide average fee of 0.6 point and the five-year ARM carried a fee of 0.8 point.