30-, 15-year mortgage rates decline

Rates for 30-year, fixed-rate mortgages averaged 6.17% this week, down from 6.22% last week and the first decline since it dropped in early March to 6.14%, mortgage company Freddie Mac said.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, dipped to 5.89%, down from 5.90% last week.

Five-year adjustable-rate mortgages averaged 5.92%, compared with 5.93% last week. One-year adjustable mortgages edged down to 5.45% from 5.47% last week.

These rates do not include add-on fees known as points. Thirty-year and 15-year mortgages both carried a nationwide average fee of 0.5 of a point.

Five-year adjustable-rate mortgages carried an average fee of 0.6 of a point while one-year ARMs carried a fee of 0.7 of a point.