Rates on 30-year and 15-year mortgages moved higher this week, a factor that could contribute to a further slowdown in home-mortgage refinancings, economists said.
Rates on benchmark 30-year fixed-rate mortgages averaged 6.32 percent, up from 6.30 percent last week, Freddie Mac said Thursday in its weekly survey.
Thirty-year mortgage rates, which fell slightly last week after an eight-week rise, had been as low this year as 5.38 percent the week of March 18.
Rates for 15-year fixed-rate mortgages also increased this week to 5.69 percent, from 5.67 percent last week. Rates for one-year adjustable-rate mortgages fell to 3.87 percent this week, from 3.99 percent last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Each loan type carried an average fee of 0.6 point this week.
At this time last year, rates on 30-year mortgages averaged 5.31 percent, 15-year mortgages were at 4.73 percent and one-year adjustable mortgages stood at 3.63 percent.
EVENTS . . . The District's Department of Housing and Community Development, along with several partners, plans a series of homeownership events in June during National Homeownership Month. On Wednesday from 4 to 7 p.m., there will be a housing fair at Marshall Heights Community Development Corp., 3939 Benning Rd. NE; phone 202-396-1200. On June 5 from 9 a.m. to 2 p.m., there will be another fair at the Latino Economic Development Corporation, 2316 18th St. NW; phone 202-588-5102. Other programs include June 10 and 15 seminars aimed at D.C. government employees, from noon to 2 p.m. at the housing department's offices, 801 N. Capitol St. NE; a June 18 sidewalk housing fair, from 11 a.m. to 3 p.m., also at the department's offices; and a June 19 Fannie Mae-backed fair, from 10 a.m. to 2 p.m. at the Frank D. Reeves Center, 14th and U streets NW; phone 202-442-7256 for additional information about each. . . . "Life, Liberty, and the Pursuit of Landscape Architecture," from 6:30 p.m. to 8 p.m. Tuesday at the National Building Museum at 401 F St. NW in Washington, discusses how security concerns and other challenges affect the ability to live healthy lives in safe environments. Leonard Hopper, former president of the American Society of Landscape Architects and chief landscape architect for the New York City Housing Authority, is to speak at the museum. Admission is $17, or $5 for students; registration is required. Call 202-272-2448 for information; Web site: www.nbm.org . . . The 2003 HAND Housing Achievement Awards are to be presented June 7 at a luncheon during the annual meeting of the Housing Association of Nonprofit Developers' annual meeting, from 11 a.m. to 2 p.m. at the Fairview Park Marriott, 3111 Fairview Park Dr., Falls Church. Virginia Lt. Gov. Timothy M. Kaine is the featured speaker. Admission is $45. For information or registration, call 703-698-8151; Web site: www.handhousing.org.
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