“Mortgage rates moved higher once again this week. The average rate on a 30-year fixed-rate mortgage increased to 5.81%, according to Freddie Mac.
This is the third straight week of rate increases. Last week, the average rate on a 30-year loan jumped 0.55% percentage points as a result of a higher-than-expected inflation reading for May. That was the largest rate increase in Freddie Mac’s survey since 1987.
The current average rate on a 15-year fixed-rate mortgage is 4.92% while the rate for a 5/1 adjustable-rate mortgage is 4.41%.”.
