LOS ANGELES-The average rate on 30-year fixed loans has increased for the second consecutive week. Freddie Mac has said that the average value for 30-year fixed loans has increased to 4.80% from the previous week's 4.74%.
The average value for 15-year fixed mortgages rose from 4.05% to 4.09%. The average value for a five-year adjustable-rate loan increased from 3.69% to 3.70% and one-year adjustable-rate housing loans inched up from 3.25% to 3.26%. Add-on fees are not included in the mortgage rates. For the full story, go to San Jose Mercury.
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