McLEAN, Va. – Rates on 30-year mortgages dipped below 6% last week, falling for the first decline in three weeks, according to Freddie Mac.
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The average for the 30-year, fixed-rate loan slipped to 5.94% last week, from 5.10% the week before; while the average for the 15-year, fixed-rate mortgage declined to 5.63%, from 5.78%.
ARM rates also moved lower last week, with the average for the five-year ARM moving to 5.90%, from 6% the week before; and the average for the one-year ARM to 5.15%, from 5.16%.
