Rates for home loans edge higher

Rates on 30-year fixed-rate mortgages averaged 6.11% this week, up from 5.96% last week, mortgage firm Freddie Mac said.

Rates on 15-year fixed-rate mortgages, popular for refinancing, rose to 5.78% from 5.65% last week. For five-year adjustable-rate mortgages, rates increased to 5.89%, compared with 5.75% last week. Rates on one-year adjustable-rate mortgages moved up to 5.50% from 5.46% last week.

These rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried a nationwide average fee of 0.5 of a point. Five-year adjustable-rate mortgages and one-year adjustable mortgages each had an average fee of 0.6 of a point.