McLEAN, Va. – Mortgage rates continued to decline this week, for the third week in a row, according to Freddie Mac. The average for the benchmark 30-year, fixed-rate loan slipped to 6.63% this week, from 6.67% last week; while the average for the 15-year, fixed-rate mortgage dipped to 6.30%, from 6.34%. ARM rates were mixed, with the average for the five-year ARM declining slightly to 6.29%, from 6.30% last week; and the average for the one-year ARM rising to 5.71%, from 5.65%. Long-term mortgage rates continued to move lower for a third consecutive week, in part reflecting a moderation in core inflation, which excludes food and energy prices, said Frank Nothaft, chief economist for Freddie Mac.
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