Mortgage Rates Climb to Nine-Week High

The average rate on a 30-year fixed-rate mortgage for the week ending July 12 was 5.52%, a sizable increase from last week’s rate of 5.40%, mortgage giant Freddie Mac reported in its weekly nationwide survey.

For 15-year fixed-rate mortgages, a popular option for refinancing, rates rose to 4.85%, up from 4.75% last week.

The rates do not include add-on fees known as points. Thirty- and 15-year loans this week each carried an average fee of 0.6 point, while one-year adjustable mortgages had an average fee of 0.7 point.