BUSINESS BRIEFING / MORTGAGES
Times Staff and Wire Reports
The average rate for a 30-year fixed mortgage was 5.04% this week, the same as a week earlier, mortgage company Freddie Mac said.
The average rate on a 15-year fixed-rate mortgage fell to 4.46% from 4.47%. Five-year, adjustable-rate mortgages averaged 4.51%, unchanged from a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.52% from 4.58%.
The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.6 of a point for 30-year, 15-year and one-year loans. The fee averaged 0.5 of a point for five-year adjustable mortgages.
