30-Year Mortgage Rate Climbs to 6.53%
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Rates on 30-year, fixed-rate mortgages averaged 6.53% this week, up from 6.49% last week and the highest since the week ending July 12, 2002, mortgage company Freddie Mac said.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a mortgage, climbed to 6.17%, up from 6.14% last week. One-year, adjustable-rate mortgages rose to 5.63%, up from 5.61%. Rates on five-year, hybrid adjustable-rate mortgages averaged 6.16%, up from 6.13%.
The mortgage rates do not include add-on fees known as points. Thirty-year mortgages carried an average nationwide fee of 0.6 point. Fifteen-year mortgages had a fee of 0.5 point, one-year ARMs carried a fee of 0.9 point and five-year ARMs had a fee of 0.8 point.
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