Home Mortgage Rates Rise On Economic Growth

[jeffrey]

Long-term 30 year fixed mortgage rates rose to 5.81% on stronger than expected economic growth. The average fixed-rate mortgage averaged 5.72% last week.

15-year fixed-rate mortgages also climbed to an average of 5.23%. The nationwide mortgage rate averages don't include points (fees that are added on to get the mortgage) with both the 30-year and 15-year mortgages averaging a 0.6 point fee.

15-year fixed rate mortgages are a popular home refinancing option to save money. With interest rates still at relatively low levels, it makes financial sense to explore refinancing your home if you haven't done so in the past couple of years.