Mortgage Rates Drop to 6-Month Low

The average rate on 30-year mortgages fell to 5.64% -- the lowest rate in six months, and down from 5.66% last week -- Freddie Mac said.

For 15-year mortgages, rates decreased to 4.95%, down from 4.97% last week. Rates for one-year adjustable mortgages dipped to 3.56%, compared with 3.62% last week.

Thirty-year and 15-year mortgages each carried an average fee of 0.6 point this week, while one-year adjustable mortgages carried an average fee of 0.7 point.