Rates on 30-year mortgages, after rising for five straight weeks, edged down slightly this week, Freddie Mac reported in its nationwide survey.
Thirty-year, fixed-rate mortgages fell to 6.69 percent this week from 6.74 percent last week, when rates had jumped to the highest level in 11 months. Rates on 15-year, fixed-rate mortgages fell to 6.37 percent from 6.43 percent. Five-year adjustable-rate mortgages fell to 6.31 percent from 6.37 percent, and one-year adjustable mortgages fell to 5.66 percent from 5.75 percent.
Rates don’t include add-on fees known as points. Thirty-year and 15-year mortgages each carried a nationwide average fee of 0.5 point. Five-year adjustable mortgages carried a fee of 0.6 point while one-year ARMs had a fee of 0.7 point.