30-Year Mortgage Rates at 7-Week High, Freddie Mac

February 22, 2008 (Associated Press) - Rates on 30-year mortgages rose to the highest level in seven weeks, Freddie Mac reported in its nationwide survey.

Thirty-year, fixed-rate mortgages averaged 6.04 percent this week, up from 5.72 percent last week. Rates on 15-year mortgages rose to 5.64 percent from 5.25 percent. Rates on five-year adjustable-rate mortgages rose to 5.37 percent from 5.19 percent. Bucking the upward trend, rates on one-year ARMs dipped to 4.98 percent from 5.03 percent.

Rates don’t include add-on fees known as points. Thirty-year mortgages and one-year adjustable-rate mortgages both carried a nationwide average fee of 0.6 point. The 15-year mortgages and five-year adjustable-rate mortgages both had average fees of 0.5 point.