Rates on 30-Year Mortgages Move Up
Rates on 30-year fixed-rate mortgages averaged 6.35% this week, up from 6.32% the previous week, mortgage company Freddie Mac reported.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 6% this week, up from 5.97% last week. One-year adjustable-rate mortgages rose to 5.51% from 5.41% last week. Rates on five-year hybrid adjustable-rate mortgages also rose, climbing to 6.02% from 5.96% last week.
The mortgage rates do not include add-on fees known as points. The 30-year and 15-year mortgages carried an average fee of 0.5 point, and the one-year adjustable rate had a fee of 0.8 point and the five-year rate carried a fee of 0.6 point.
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