Rates on Mortgages Edge Up in Latest Week
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Rates on 30-year, fixed-rate mortgages averaged 6.63% this week, up slightly from 6.62% last week and a full percentage point above where they were a year ago, mortgage company Freddie Mac said.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, increased to 6.25%, up from 6.23% last week. Rates on one-year adjustable-rate mortgages rose to 5.66%, up from 5.63% last week. Rates on five-year adjustable-rate mortgages climbed to 6.23%, up from 6.20% last week.
The rates do not include add-on fees known as points. The 30-year and five-year mortgages each carried a nationwide average fee of 0.5 point while the 15-year and one-year ARM had an average fee of 0.6 point.
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