30-Year, 15-Year Mortgage Rates Fall

Rates on 30-year, fixed-rate mortgages dropped to 5.75% this week, down from 5.83% last week and the lowest since the beginning of April.

For 15-year, fixed-rate mortgages, a popular option for refinancing, rates decreased this week to 5.13%, from 5.22% last week. Rates on one-year adjustable rate mortgages rose slightly to 4.03%, from last week’s 4%.

The nationwide averages for mortgage rates do not include add-on fees known as points. The 30-year and 15-year mortgages each carried a 0.8 point fee. One-year ARMs carried an average 0.7 point.