BUSINESS BRIEFING / THE ECONOMY
Times Staff and Wire Reports
The average rate on a 30-year fixed-rate mortgage was 5.29% this week, up from 5.22% last week, mortgage company Freddie Mac said.
The average rate on a 15-year fixed-rate mortgage was 4.68%, an increase from 4.63%.
Five-year adjustable-rate mortgages averaged 4.75%, up from 4.73%.
One-year adjustable-rate mortgages dropped to 4.72% from 4.78%.
The rates do not include add-on fees known as points.
The nationwide fee averaged 0.7 of a point for 30- and 15-year fixed-rate mortgages, 0.6 of a point for five-year adjustable-rate mortgages and 0.4 of a point for one-year adjustable-rate mortgages.
