Mortgage Rates Rise in Latest Week

Mortgage giant Freddie Mac reported that average rates on 30-year, fixed-rate mortgages rose to 5.73% this week, up from 5.66% last week.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.32%, up from 5.25% last week.

For one-year adjustable rate mortgages, rates increased to 4.42%, compared with 4.39% last week. Rates on five-year hybrid adjustable rate mortgages averaged 5.26%, up from 5.15% last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year mortgages and 15-year mortgages each carried an average fee of 0.4 point this week. One-year ARMs had an average fee of 0.6 point, while five-year ARMs carried a fee of 0.5.