Mortgage rates were up this week, Freddie Mac reported today in its latest survey, but were still lower than a year ago. The average rate on 30-year fixed-rate mortgages climbed to 6.13 percent from last week's 6.03 percent, while the average 15-year fixed mortgage jumped from 5.47 percent to 5.6 percent. A year ago, rates on the 30- and 15-year loans averaged 6.14 percent and 5.88 percent, respectively. "However, for the first 11 weeks so far this year, the average 30-year fixed rate is still below 5.9 percent, and the average 30-year rate in January was the lowest since July 2005," Freddie Mac Vice President and Chief Economist Frank Nothaft said in a statement. To qualify for these rates, borrowers must pay points, or fees that lenders charge for loan processing expressed as a percent of the loan, which this week averaged 0.5 on the 30- and 15-year loans. According to Freddie Mac, the average rate on five-year Treasury-indexed hybrid adjustable-rate mortgages...
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