Mortgage Rates Resume Slide

The average interest rate on a fixed-rate 30-year mortgage dropped to 5.79%, from 5.91% last week, mortgage company Freddie Mac reported.

For 15-year fixed-rate mortgages, a popular option for refinancing, rates went down to 5.06% this week, compared with 5.21% last week. On one-year adjustable-rate mortgages, rates edged down to 3.82%, from 3.84%.

These rates do not include add-on fees known as points. Each loan type carried an average fee of 0.6 point this week.