BUSINESS BRIEFING / THE ECONOMY
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Times Wire Reports
The average rate on a 30-year fixed-rate mortgage increased to 5.15% this week from 5.07% last week, mortgage company Freddie Mac said.
The average rate on a 15-year fixed-rate mortgage rose to 4.72% from 4.68%. Five-year adjustable-rate mortgages increased to 5.08% from 5.06%. One-year ARMs rose to 4.86% from 4.81%.
The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 of a point for 30-year and 15-year fixed-rate mortgages. The fee for five-year adjustable-rate mortgages averaged 0.6 of a point. One-year adjustable-rate mortgages had an average fee of half a point.
