Mortgage Rates at Lowest Level in Month

The average rate on a 30-year fixed mortgage fell this week to the lowest level in more than a month, Freddie Mac said.

The rate dropped to 7.06%, the third straight decline, from 7.14% the previous week. It was the lowest since 6.84% in the week ending Dec. 7.

The rate on a one-year adjustable mortgage was unchanged at 5.26%.

The rate on a 15-year mortgage, a popular refinancing option, fell to 6.55% from 6.62% the previous week.