Average rate for 30-year fixed mortgage ticks downward and mortgages loan

The average rate for 30-year, fixed-rate mortgages was 5.06 percent this week, down from 5.07 percent last week, according to Freddie Mac's weekly survey of the mortgage market.
The average rate on a 15-year, fixed-rate mortgage was 4.39 percent, unchanged from last week.
Rates on five-year, adjustable-rate mortgages averaged 4 percent, down from 4.03 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.25 percent from 4.22 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac's survey averaged 0.7 of a point for 30-year and 15-year loans, 0.6 of a point for five-year loans, and 0.5 of a point for one-year loans.


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