Rates on 30-, 15-Year Mortgages Drop Again

Mortgage rates around the country slipped for a third week in a row.

Mortgage giant Freddie Mac said 30-year fixed-rate mortgages fell to 6.55% from 6.63% last week. Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 6.20%, down from 6.27%.

For one-year adjustable-rate mortgages, rates held at 5.69%, the same as last week; rates on five-year adjustable mortgages fell to 6.21% from 6.27%.

The mortgage rates do not include add-on fees known as points. One-year ARMs carried a nationwide average fee of 0.8 of a point, while the other three mortgage categories carried average fees of 0.4 of a point.