McLEAN, Va. – Long-term mortgage rates moved lower again this week, with the average for the benchmark 30-year loan slipping closer to the 5% mark, according to Freddie Mac.
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The 30-year rate dipped to 5.04% this week, from 5.07% last week; while the average for the 15-year, fixed-rate loan declined to 4.47%, from 4.50%.
ARM rates were mixed, with the average for the one-year ARM also declining, to 4.58%, from 4.64% last week; and the average for the five-year ARM holding steady at 4.51%.
