Mortgage Rates Post 1st Drop in 4 Weeks

Interest rates on U.S. 30-and 15-year mortgages fell this week for the first time in four weeks, Freddie Mac said.

Thirty-year fixed-rate mortgages averaged 6.84% in the Dec. 7 week, down from 7.02% last week, while 15-year mortgages stood at an average 6.30% compared with 6.53%. The rates last fell the week of Nov. 9.

One-year adjustable-rate mortgages stood at an average 5.21%, a slight change from 5.22% last week. A year ago, 30-year mortgages averaged 7.54%, 15-year mortgages 7.19% and ARMs 7.21%.