Interest Rates Fall on 15- and 30-Year Loans
From the Associated Press
Rates on 30-year fixed-rate mortgages averaged 6.58% this week, down from 6.59% last week, mortgage company Freddie Mac said.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, fell to 6.17%, down from 6.22% last week. One-year adjustable-rate mortgages fell to 5.62%, down from 5.67%. Rates on five-year hybrid adjustable-rate mortgages averaged 6.22%, up slightly from 6.21% last week.
The mortgage rates do not include add-on fees known as points. The one-year ARM carried a nationwide average fee of 0.7 point, and the three other mortgage categories had an average fee of 0.5 point.
