Average Rate on 30-Year Mortgage Edges Down

Mortgage rates around the country were mixed this week, with 30-year mortgages dipping slightly and rates on 15-year and one-year adjustable-rate mortgages edging up. The average interest rate on 30-year fixed-rate mortgages fell to 6.96% from 6.97% last week, according to mortgage company Freddie Mac. Fifteen-year mortgages, a popular option for refinancing, rose to 6.54% from 6.52% the week before. On one-year adjustables, lenders were asking an average initial rate of 6.32%, up from 6.29% the week before. The rates do not include add-on fees known as points.