Mortgage Rates Rise; Highest Since January

The average rate on benchmark 30-year, fixed-rate mortgages rose to 5.79% this week, up from 5.52% last week, Freddie Mac reported.

This week’s rate was the highest since Jan. 8, when 30-year mortgages averaged 5.87%.

Rates for 15-year, fixed-rate mortgages increased this week to 5.12%, from 4.84% last week. For one-year adjustable mortgages, rates moved up this week to 3.65%, from 3.46%. This week’s rates for 15-year and one-year ARMs also were the highest since Jan. 8.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried an average fee of 0.7 point this week; one-year ARMs carried an average fee of 0.5 point.