Mortgage Rates Up After Several Declines
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The average rate on 30-year mortgages rose to 5.85% this week, up slightly from 5.81% last week, mortgage company Freddie Mac reported in its weekly survey. Rates had fallen in the previous three weeks.
For 15-year mortgages, a popular option for refinancing, rates increased to 5.15% this week, up from 5.13%. Rates for one-year adjustable mortgages averaged 3.72%, down slightly from 3.73%.
The nationwide averages for mortgage rates do not include add-on fees known as points. Each loan type carried an average fee of 0.7 point this week.
From Associated Press
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