BUSINESS BRIEFING / THE ECONOMY
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Average rates on 30-year fixed-rate mortgages climbed to 4.87% this week from 4.78% last week, mortgage company Freddie Mac said.
The average rate on a 15-year fixed-rate mortgage rose to 4.54% from 4.52%. Five-year adjustable-rate mortgages increased to 4.93% from 4.92%. One-year adjustable mortgages rose to 4.83% from 4.75%.
These rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for all mortgages in Freddie Mac’s survey except for one-year adjustable mortgages, which had an average fee of 0.5 point.
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