Mortgage Rates Highest in 8 Months
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Rates on 30-year fixed-rate mortgages averaged 6.04% this week, up from 6.01% last week and the highest since July, mortgage company Freddie Mac reported.
Rates on 15-year fixed-rate mortgages, a popular option for refinancing, rose to 5.58%, up from 5.56% last week. Rates on one-year adjustable-rate mortgages increased to 4.33% from 4.24% last week. Five-year hybrid adjustable-rate mortgages averaged 5.43%, up from 5.35% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year mortgages, 15-year mortgages and five-year ARMs each carried a fee of 0.7 point. The one-year ARM had a financing fee of 0.8 point.
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