Mortgage Rates Fall; 1-Year ARMs Rise
From Associated Press
Rates on benchmark 30-year fixed-rate mortgages declined this week to 6.21%, compared with 6.25% last week, mortgage company Freddie Mac reported.
Rates for 15-year, fixed-rate mortgages dipped to 5.62%, down from 5.64% last week. Rates on one-year adjustable-rate mortgages this week rose to 4.19% from 4.13%.
The averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year loans each carried an average fee of 0.6 point this week, while one-year ARMs carried an average fee of 0.7 point.
