30-, 15-year fixed-rate mortgages fall
From Times Wire Services
Rates on 30-year fixed-rate mortgages averaged 6.52% this week, down from 6.62% last week and the lowest since the last week of May, mortgage company Freddie Mac said.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 6.18%, down from 6.3% last week. Five-year adjustable-rate mortgages fell to 6.34% from 6.35% last week. Rates on one-year adjustable-rate mortgages fell to 5.6%, compared with 5.67% last week.
The rates do not include add-on fees known as points. Thirty-year mortgages carried a nationwide average fee of 0.4 of a point. Fifteen-year mortgages had a fee of 0.5 of a point. Five-year and one-year mortgages each averaged 0.6 of a point.
