Mortgage interest rates declined this week, lowering borrowing costs as the housing market’s recovery shows signs of slowing.
This Story
The average rate for 30-year, fixed-rate mortgage loans fell to 4.97 percent from 5.05 percent last week, mortgage finance company Freddie Mac said. The average 15-year rate was 4.33 percent, down from 4.40 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.11 percent, down from 4.16 percent, and one-year ARMs rose to 4.27 percent from 4.15 percent.
The rates do not include points, which are a form of prepaid interest. Each point equals 1 percent of the …
Read the original article at Washington Post
