Mortgage Rates Rise for 2nd Week in a Row
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The average rate on 30-year mortgages increased to 6.05% this week, up from last week’s rate of 5.95%, mortgage company Freddie Mac reported.
For 15-year mortgages, a popular option for refinancing, rates climbed to 5.36%, up from 5.26%. Rates for one-year adjustable mortgages rose to 3.7% from 3.69% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried an average fee of 0.5 point. One-year ARMs carried an average fee of 0.6 point this week.
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