Mortgage Rates Rise for 5th Straight Week
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The average rate on a 30-year, fixed-rate mortgage increased to 5.94% this week, up from 5.89% last week, Freddie Mac reported.
This week’s rate was the highest since 30-year mortgages averaged 6.02% the week ended Dec. 5. It marked the fifth straight increase since 30-year rates hit a low for this year of 5.38% the week ended March 18.
Rates for 15-year, fixed-rate mortgages rose to 5.25%, up from 5.23% last week. One-year adjustable mortgage rates were 3.69% this week, unchanged from the previous week.
The nationwide averages for mortgage rates do not include add-on fees known as points. The 30-year, 15-year and one-year all carried an average fee of 0.7 point this week.
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