30-year fixed-rate mortgages fall to 6.24%
From the Associated Press
Average rates on 30-year fixed mortgages dipped to 6.24%, mortgage company Freddie Mac said, down from 6.33% last week and the lowest since March 2.
Rates on 15-year fixed mortgages, a popular choice for refinancing, averaged 5.94%, down from 6.04% last week. One-year adjustable-rate mortgages fell to 5.53%, down from 5.55% last week. Five-year adjustable-rate mortgages dropped to 6.04% from 6.08% last week.
The mortgage rates do not include add-on fees known as points. All four categories of mortgages carried a nationwide average fee of 0.5 of a point.
