Fixed-Rate Mortgages Rise: Rates for 30-year fixed...

Fixed-Rate Mortgages Rise: Rates for 30-year fixed mortgages rose 0.01 percentage points this week while adjustable-rate mortgages climbed 0.05 percentage points, the Federal Home Loan Mortgage Corp. said. The agency, which buys mortgages from lenders and packages them as securities for sale to investors, said interest on fixed-rate loans rose to 10.22% this week, up from 10.21% the week before. Adjustable-rate mortgages averaged 8.74%, up from 8.69% last week. The fixed-rate average is for a 30-year loan covering 80% of a home’s cost. The average adjustable-rate mortgage also is for 30 years but for 75% of the home price.