Mortgage Rates Decline This Week

Rates on 30-year fixed-rate mortgages fell to a nationwide average of 5.77% this week, down from last week’s 5.8%, mortgage giant Freddie Mac reported.

Rates on 15-year fixed-rate mortgages averaged 5.35%, down from 5.4% last week.

One-year adjustable-rate mortgages edged down to 4.56% from 4.58%. Rates on five-year hybrid adjustable-rate mortgages averaged 5.3%, down from 5.34% last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Both the five-year and 15-year mortgages carried an average fee of 0.6 point this week. Thirty-year mortgages carried an average fee of 0.5 point, and one-year adjustable-rate mortgages had a fee of 0.7 point.