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Business Briefing / THE ECONOMY

Mortgage rates rise across board

June 13, 2008|From Times Wire Services

Rates on 30-year fixed-rate mortgages averaged 6.32% this week, up sharply from 6.09% last week and the highest since they averaged 6.33% in the week of Oct. 25.

Rates on 15-year fixed-rate mortgages rose to 5.93%, up from 5.65% last week. The five-year adjustable-rate mortgage rose to 5.70%, up from 5.51%. The rate on a one-year adjustable mortgage edged up to 5.09% from 5.06%.

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

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