Long-term fixed rates unchanged
From Times Wire Services
Rates on 30-year fixed-rate mortgages averaged 5.88% this week, unchanged from last week, mortgage company Freddie Mac said.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, remained at 5.42%. Five-year adjustable-rate mortgages declined slightly to 5.56% from 5.59%. One-year adjustable-rate mortgages slipped to 5.18% from 5.19% last week.
These rates do not include fees known as points. For 30- and 15-year mortgages, the nationwide average fee was 0.4 of a point. The average fee was 0.6 of a point for five-year adjustable-rate mortgages and 0.7 of a point for one-year ARMs.
