30-Year Mortgage Rates Jump to 6.37%

Rates on 30-year, fixed-rate mortgages averaged 6.37% this week, up sharply from 6.24% last week. The last time the rate was higher was the week of Sept. 5, 2003, mortgage company Freddie Mac said.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 6%, up from 5.89% last week. One-year adjustable-rate mortgages rose to 5.45%, up from 5.34% last week. Rates on five-year hybrid adjustable-rate mortgages rose to 6.03%, up from 5.97% last week.

These rates do not include add-on fees known as points. The 30-year and 15-year mortgages had a nationwide average fee of 0.6 point this week. The one-year adjustable-rate mortgage carried a nationwide average fee of 0.8 point and the five-year ARM had a 0.7-point average fee.