30-Year, 15-Year Mortgage Rates Fall

Rates on 30-year, fixed-rate mortgages averaged 5.74% for this week, mortgage company Freddie Mac said, down from 5.76% last week.

For 15-year, fixed-rate mortgages, a popular option for refinancing, rates this week averaged 5.15%, down slightly from 5.16% last week. For one-year adjustable-rate mortgages, rates increased to 4.17%, compared with 4.16% last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried a 0.6-point fee. One-year ARMs carried a 0.7-point fee.