30-Year Mortgage Rates Remain Under 8%

The average interest rate on 30-year fixed-rate mortgages rose to 7.79% this week from last week’s 7.73%, Freddie Mac said. Fifteen-year mortgages, a popular option for refinancing, rose to an average 7.44% this week, from 7.41% last week. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 7.23%, up from 7.12% the week before. For the same period last year, one-year ARMs averaged 6.30%. The rates do not include add-on fees known as points.