Rate for 30-year mortgage dips below 6%
WASHINGTON — Rates on 30-year mortgages fell below 6 percent this week, recording the first decline in three weeks.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.94 percent this week, down from 6.10 percent last week. It marked the first decline since rates fell on Sept. 18 to 5.78 percent.
According to the Freddie Mac survey, rates on all types of mortgages were lower this week.
Rates on 15-year fixed-rate mortgages, which are popular with people who are refinancing, dropped to 5.63 percent, compared to 5.78 percent last week. Rates on five-year adjustable-rate mortgages fell to 5.90 percent from 6.00 percent last week.
The mortgage rates do not include add-on fees known as points.
