Mortgage rates decline broadly
From Times Wire Services
Rates on 30-year fixed-rate mortgages fell to 6.26% this week from 6.33% last week, the lowest since the week of May 17, mortgage company Freddie Mac said.
Rates on 15-year fixed-rate mortgages averaged 5.91%, down from 5.99% last week. Rates on five-year adjustable-rate mortgages averaged 5.98%, down from 6.03%. Rates on one-year ARMs dropped to 5.57% from 5.66%.
These rates do not include add-on fees known as points. Thirty- and 15-year fixed-rate mortgages both carried a nationwide average fee of 0.4 of a point, as did the five-year ARM. The one-year ARM carried an average fee of 0.6 of a point.
