Mortgage rates highest in 10 months
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Mortgage giant Freddie Mac said 30-year, fixed-rate mortgages averaged 6.53% this week, up sharply from 6.42% last week and the highest in 10 months.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, rose to 6.22%, up from 6.12% last week. Five-year adjustable-rate mortgages averaged 6.24%, up from 6.19%. One-year adjustable mortgages rose to 5.65%, up from 5.57% last week.
These rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried a nationwide average fee of 0.4 of a point.
Five-year adjustable mortgages carried a fee of 0.6 of a point while one-year ARMs had a fee of 0.7 of a point.
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