Rates decline for all types of mortgages
From Times Wire Services
Thirty-year fixed-rate mortgages averaged 6.69% this week, down from 6.73% last week, mortgage company Freddie Mac said.
Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, edged down to 6.37% from 6.38% last week. Rates on five-year adjustable-rate mortgages averaged 6.3%, down from 6.35% last week.
Rates on one-year adjustable-rate mortgages edged down to 5.69% from 5.72% last week.
The rates do not include add-on fees known as points. The 30-, 15- and five-year mortgages all carried a nationwide average fee of 0.4 of a point. The one-year adjustable-rate mortgage carried an average fee of 0.5 of a point.
