30-Year Mortgages Unchanged; Others Fall
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Mortgage giant Freddie Mac reported that the nationwide average for rates on 30-year, fixed-rate mortgages remained frozen at 5.71% this week, the same as last week.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.30%, down from 5.32% last week. One-year adjustable rate mortgages edged down slightly to 4.45% from 4.48% last week. Rates on five-year hybrid adjustable rate mortgages averaged 5.24% this week, unchanged from last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. The one-year ARM had an average fee of 0.7 point; all other categories carried a fee of 0.6 point.
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