Rates on 30-, 15-Year Mortgages Increase
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Rates on 30-year fixed-rate mortgages averaged 6.60% this week, up from 6.58% last week, mortgage company Freddie Mac said.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, rose to 6.20%, up from 6.17% last week. For five-year, hybrid adjustable-rate mortgages, rates edged up to 6.23%, from 6.22% last week. One-year adjustable-rate mortgages averaged 5.62%, unchanged from last week.
The mortgage rates do not include add-on fees known as points. The one-year ARM carried a nationwide average fee of 0.7 point; the other three mortgage categories each had an average fee of 0.5 point.
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