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In Brief | MORTGAGES

30-, 15-year fixed rates edge higher

September 07, 2007|From Times Wire Services

Mortgage company Freddie Mac reported that 30-year fixed-rate mortgages averaged 6.46% this week, compared with 6.45% last week.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 6.15%, compared with 6.12% last week. Rates on five-year adjustable-rate mortgages fell to 6.32%, compared with 6.35% last week. Rates on one-year adjustable-rate mortgages, which had risen steeply last week, dropped to 5.74% from 5.84%.

These rates do not include add-on fees known as points. Thirty-year mortgages and 15-year mortgages each carried a nationwide average fee of 0.5 of a point. Five-year ARMs and one-year ARMs both carried an average fee of 0.6 of a point.

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