30-Year Mortgage Rate Rises to 5.7%
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From Associated Press
Rates on 30-year fixed-rate mortgages averaged 5.7% this week, Freddie Mac said. That was up from 5.64% last week.
The rates hit a high this year of 6.34% the week of May 13. Since then, they had drifted lower as inflation fears had eased.
For 15-year fixed-rate mortgages, a popular option for refinancing, rates rose this week to 5.08%, up from 5.01% last week. For one-year adjustable-rate mortgages, rates averaged 4% this week, compared with 3.96% last week.
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