Rates on 30-, 15-Year Mortgages Decline
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Rates on 30-year fixed-rate mortgages averaged 5.71% this week, down from 5.77% last week, mortgage company Freddie Mac reported.
For 15-year fixed-rate mortgages, a popular option for refinancing, rates slipped to 5.27% from 5.33% last week.
Rates on five-year hybrid adjustable-rate mortgages also declined, falling to 5.07% from 5.21% the week before. Rates on one-year adjustable-rate mortgages, however, rose to 4.26% from 4.23% last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Each mortgage type carried a nationwide average fee of 0.7 point.
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