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30-year mortgage rates inch up

June 06, 2008|From Times Wire Services

Rates on 30-year fixed-rate mortgages averaged 6.09% this week, up from 6.08% last week and the highest since averaging 6.13% the week of March 16, mortgage company Freddie Mac said.

Rates on 15-year fixed-rate mortgages averaged 5.65%, compared with 5.66% last week. The five-year adjustable-rate mortgage fell to 5.51% from 5.62%. One-year adjustable-rate mortgages stood at 5.06%, compared with 5.22% last week.

These rates do not include add-on fees known as points. The nationwide fee for 30-year and 15-year fixed-rate mortgages averaged 0.6 of a point. The fee on five-year ARMs averaged 0.5 of a point and one-year ARMs averaged 0.7 of a point.

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