Mortgage Rates Decline This Week

The average rate on 30-year mortgages was 5.83% this week, down from 6.03% the previous week, Freddie Mac reported.

For 15-year mortgages, a popular option for refinancing, rates dropped to 5.17%, from 5.39% last week.

Rates for one-year adjustable mortgages averaged 3.72%, compared with last week’s 3.76%.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year mortgages carried an average fee of 0.6 point this week.

Fifteen-year and one-year adjustable-rate mortgages each carried an average fee of 0.7 point.