30-Year Mortgage Rate Drops to 6.71%
Associated Press
The average interest rate on 30-year fixed-rate mortgages declined to 6.71% this week from 6.76% the previous week, according to a nationwide survey.
Fifteen-year mortgages, a popular option for refinancing, fell to 6.18% this week, mortgage company Freddie Mac said, down from 6.22% the week before.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 4.71%, down from 4.76% the previous week.
These rates do not include add-on fees known as points.
