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Business Briefing / Real Estate

30-year mortgage rates rise

May 29, 2009|Times Wire Reports

Average rates on 30-year fixed-rate mortgages rose to 4.91% this week from 4.82% a week earlier, mortgage company Freddie Mac said.

The average rate on a 15-year fixed-rate mortgage increased to 4.53% this week from 4.5%. Five-year adjustable-rate mortgages inched up to 4.82% from 4.79%. One-year adjustable-rate mortgages fell to 4.69% from 4.82%.

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

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