McLEAN, Va. – Rates on long-term mortgages declined again this week to their lowest since June, according to Freddie Mac. The average for the 30-year, fixed-rate mortgage dipped to 6.45% this week, from 6.52% last week; while the average for the 15-year, fixed-rate loan dipped to 6.12%, from 6.18%. But ARM rates rose, with the average for the five-year ARM moving to 5.84%, from 5.60%; and the average for the one-year ARM inching up to 6.35%, from 6.34%. "The increase in ARM rates is consistent with movement of the yields on short-term Treasury securities, which have exhibited higher volatility recently due to market uncertainties,” said Frank Nothaft, chief economist for the secondary mortgage market giant.
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