The mortgage company, Freddie Mac reported that rates on 30-year, fixed-rate mortgages averaged 6.62%, down from 6.67% last week. That could have been the highest level in nearly four years.

Moreover, the rates on 15-year, fixed-rate mortgages dropped this week to 6.23%, down from 6.26% last week. Rates on one-year adjustable-rate mortgages were also down for the week, falling to 5.63%. They had been 5.68% last week. Rates on five-year adjustable-rate mortgages dropped to 6.20%, compared with 6.26% last week.

By M. Sese
http://realestatepress.org