Mortgage rates lowest since June
From Times Staff and Wire Reports
Rates on 30-year, fixed-rate mortgages averaged 6.59% this week, down from 6.68% last week and the lowest since early June, mortgage company Freddie Mac said.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, dropped to 6.25% from 6.32% last week. Rates on one-year adjustable-rate mortgages fell to 5.65% from 5.69%. Five-year adjustable-rate mortgages rose to 6.33% from 6.29% last week.
These rates do not include add-on fees known as points. Thirty-year and 15-year loans carried a nationwide average fee of 0.4 of a point. Five-year and one-year ARMs carried an average fee of 0.5 of a point.
