Mortgage Rates Edge Down This Week
Associated Press
The average interest rate on 30-year fixed-rate mortgages slipped to 7.11%, down from 7.14% last week, Freddie Mac said.
Fifteen-year mortgages, a popular option for refinancing, fell to 6.65% this week, compared with 6.70% the previous week.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.74%, down from 5.82%.
These rates do not include add-on fees known as points, which averaged about 1% of the loan amount for all three types of mortgages.
