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Home loan rates move higher

July 24, 2009|Times Wire Reports

The average rate for a 30-year fixed mortgage this week was 5.2%, up from 5.14% a week earlier, mortgage company Freddie Mac said.

The average rate on a 15-year fixed mortgage rose to 4.68% from 4.63%. Five-year adjustable-rate mortgages averaged 4.74%, down from 4.83%. One-year adjustable-rate mortgages edged up to 4.77% from 4.76%.

The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 of a point for all loans in Freddie Mac's survey, except for one-year adjustable-rate mortgages, whose fees averaged 0.6 of a point.

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