Mortgage Rates Drop: Interest rates on fixed-rate...

Mortgage Rates Drop: Interest rates on fixed-rate home mortgages averaged 10.5% last week, according to a national survey by the Federal Home Loan Mortgage Corp. That was down from a rate of 10.69% the previous week. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 9.18% last week, down from 9.28% the week before, the agency said.