30-Year Mortgage Rates Inch Up to 7.90%

Rates on 30-year mortgages edged up this week but remained below 8% for the sixth week in a row. The average interest rate on 30-year fixed-rate mortgages rose to 7.90% for the week, up from 7.88% the week before, Freddie Mac said. Fifteen-year mortgages dipped to an average 7.57% this week from 7.60% last week. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 7.27%, up a tick from last week’s 7.26%. The rates do not include add-on fees known as points.

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