Rates on 30-year fixed-rate mortgages averaged 9.68 percent this week, up from 9.64 percent last week, according to a national survey released Friday by the Federal Home Loan Mortgage Corp.
Two weeks ago, fixed-rate mortgages hit a 44-month low of 9.56 percent after peaking for 1990 at 10.67 percent during the week ending May 4.
On one-year adjustable rate mortgages, lenders were asking an average initial rate of 7.92 percent, up from 7.86 percent last week, the lowest in 29 months. The one-year rate hit its high for the year of 8.63 percent in the week ending May 11. The rates do not include add-on fees known as points.