Mortgage Rates in U.S. Increase Slightly

The average rate on 30-year mortgages increased this week to 5.89%, up slightly from 5.83% the previous week, mortgage giant Freddie Mac reported.

For 15-year mortgages, a popular option for refinancing, rates rose to 5.22% from 5.17% last week. Rates for one-year adjustable mortgages averaged 3.77%, compared with last week’s 3.72%.

These rates do not include add-on fees known as points. Thirty-year mortgages carried an average fee of 0.6 point this week. Fifteen-year and one-year adjustable-rate mortgages each carried an average fee of 0.7 point.