Mortgage Rates Drop This Week
From Associated Press
Rates on 30-year fixed-rate mortgages averaged 5.8% this week, down from 5.91% last week, mortgage company Freddie Mac said.
Rates on 15-year fixed-rate mortgages, a popular option for refinancing, fell to 5.36% from 5.46% last week. The average for one-year adjustable-rate mortgages dropped to 4.26% from 4.30%. Five-year hybrid adjustable-rate mortgages averaged 5.22%, down from 5.31%.
The nationwide averages for mortgage rates do not include add-on fees known as points. The 30-year and 15-year mortgages carried a fee of 0.5 point on average, and the five-year and one-year mortgages carried a 0.6-point fee.
