Mortgage Rates Decline This Week

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

For 15-year fixed-rate mortgages, rates fell to 5.28%. Rates for one-year adjustable-rate mortgages dropped to 3.89%.

These 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 fee.