30-Year Mortgage Rates Drop Slightly to 6.30%

Rates on 30-year fixed-rate mortgages averaged 6.30% this week, down slightly from 6.32% last week, mortgage company Freddie Mac said.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.85%, down from 5.87% last week. One-year adjustable-rate mortgages dipped to 5.15%, down from 5.17% last week, while rates on five-year hybrid adjustable-rate mortgages averaged 5.77%, down from 5.78% last week.

The nationwide averages for mortgage rates do not include add-on fees known as points. The one-year ARM carried a nationwide average fee of 0.6 point while all other mortgage categories carried an average fee of 0.5 point.