Freddie Mac: 30-year fixed mortgage rate at 3.57%, up slightly

Borrowers with solid credit were being offered 30-year fixed home loans at an average 3.57% this week, up from 3.54% a week ago, according to Freddie Mac‘s latest survey.

The average offering rate for a 15-year mortgage -- a popular option for those refinancing homes -- rose from 2.72% to 2.76%, the home-finance firm said Thursday.

The starting rate for loans that are fixed for five years before becoming variable rose to 2.61% from 2.68%, the survey found.

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Freddie Mac, propped up by the government since the financial crisis, asks lenders about the terms they are offering to borrowers with solid credit scores, 20% down payments or home equity and the financial capability to repay the loans.

The rates are for borrowers who pay lenders less than 1% of the loan amount upfront to cover fees and discount points. It’s possible to get lower rates by paying additional discount points.

The survey doesn’t include third-party expenses often borne by borrowers, such as charges for appraisals and title insurance.

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