Mortgage Rates Fall, Breaking 8-Week Climb

Freddie Mac reported that rates on benchmark 30-year fixed-rate mortgages fell to 6.30%, breaking an eight-week climb. Last week’s rate was 6.34%.

Rates for 15-year fixed-rate mortgages also fell this week to 5.67%, down from 5.72% last week. But rates for one-year adjustable-rate mortgages climbed to 3.99%, compared with 3.90% last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year loans each carried an average fee of 0.7 point this week, while one-year ARMs carried an average fee of 0.6 point.