Mortgage Rates Decline This Week

The average interest rate on a 30-year fixed-rate mortgage dropped to 5.91% this week, down from 5.97% last week, mortgage company Freddie Mac reported.

For 15-year fixed-rate mortgages, a popular option for refinancing, rates fell to 5.31%, compared with 5.36% last week. Rates also dropped on one-year adjustable-rate mortgages, to 3.93% from 4.03% last week.

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