U.S. 30-Year Mortgage Rate Slips to 5.88%

Fixed mortgage rates around the country edged down this week, with rates on one-year adjustable rate mortgages holding steady at their lowest level in 19 years of record keeping.

The average interest rate on a 30-year, fixed-rate mortgage dipped to 5.88% for this week, down from 5.90% last week, Freddie Mac reported.

This week’s mortgage rates do not include add-on fees called points. Thirty-year and one-year adjustable mortgages carried an average fee of 0.7 point this week, while 15-year mortgages had an average 0.6-point financing fee.