Rates on 30-, 15-Year Mortgages Decline
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Rates on 30-year fixed-rate mortgages averaged 5.75% this week, down from 5.78% last week, mortgage company Freddie Mac reported.
Rates on 15-year fixed-rate mortgages, a popular option for refinancing, declined to 5.31% from 5.33% last week. Rates on one-year adjustable-rate mortgages edged up to 4.22% from 4.21% last week. Five-year hybrid adjustable-rate mortgages averaged 5.31%, compared with 5.2% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. The one-year ARM carried a fee of 0.7 point while the three other categories all carried a fee of 0.6 point.
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