Rates on 30-year mortgages edge up
From the Associated Press
Mortgage giant Freddie Mac reported that 30-year, fixed-rate mortgages averaged 6.16% this week, up slightly from 6.14% last week and the second-lowest level for the year.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, edged up to 5.90% from 5.88% last week. Five-year adjustable-rate mortgages averaged 5.91%, up from 5.90% last week. One-year adjustable mortgages dipped to 5.40%, down from 5.42% last week.
The mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages both carried a nationwide average fee of 0.4 of a point. The five-year mortgage had an average fee of 0.6 of a point, while the fee on one-year mortgages averaged 0.7 of a point.
