Mortgage Rates Edge Down This Week

The average rate on 30-year mortgages nudged down to 5.81% this week, slightly lower than the 5.82% rate last week, Freddie Mac reported.

For 15-year mortgages, a popular option for refinancing, rates edged down to 5.13% from 5.14% the previous week.

Rates for one-year adjustable mortgages, meanwhile, averaged 3.73%, down from 3.77% last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year mortgages carried an average fee of 0.7 point; 15-year mortgages carried an average fee of 0.6 point and one-year ARMs carried an average fee of 0.5 point.