Rates on 30-year fixed mortgages increased for the fifth straight week.

According to a Freddie Mac report published Thursday, the average rate on a 30-year fixed mortgage rose to 4.83 percent from 4.61 percent last week. In November, the rate was at a 40-year low of 4.17 percent.

The average rate on a 15-year mortgage also increased this week to 4.17 percent, up from 3.96 percent last week. The rate on a 15-year loan reached 3.57 in November, the lowest level on record since 1991.

The average rate on a five-year balloon mortgage rose to 3.77 percent from 3.60 percent. The five-year rate hit 3.25 last month, the lowest rate since January 2005. The average rate on a one-year adjustable rate home loan rose from 3.27 percent to 3.35 percent this week.

If you are considering refinancing, please contact a Maryland mortgage modification attorney of Chaifetz & Coyle, P.C., by calling 443-546-4608.