30-Year Mortgage Rates Climb to 6.37%
From the Associated Press
Average rates on 30-year fixed-rate mortgages rose to 6.37% this week, mortgage company Freddie Mac said, up from 6.3% last week, which was the lowest level since the first week of March.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 6.06%, up from 5.98% last week. Rates on one-year adjustable-rate mortgages jumped to 5.56%, up from 5.46% last week. Rates on five-year adjustable-rate mortgages rose to 6.1%, up from 6% last week.
The mortgage rates do not include add-on fees known as points. The 30-year and 15-year mortgages each carried an average nationwide fee of 0.5 point. The one-year ARM had a nationwide average fee of 0.7 point and the five-year ARM carried a fee of 0.6 point.
