BUSINESS BRIEFING / HOUSING
Times Wire Reports
The average rate for a 30-year fixed mortgage was 5.59% this week, up from 5.29% last week, mortgage company Freddie Mac said.
The average rate on a 15-year fixed-rate mortgage rose to 5.06%, up from 4.79%. Five-year, adjustable-rate mortgages averaged 5.17%, up from 4.85%. One-year, adjustable-rate mortgages rose to 5.04% from 4.81%.
The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for 30-year and 15-year mortgages and one-year adjustable-rate loans. Fees averaged 0.6 point for five-year adjustable-rate loans.
