Mortgage Rates Decrease This Week

Rates on 30-year fixed-rate mortgages decreased to 5.77% this week, down from 5.82% last week and the lowest since rates averaged 5.52% for the week ended April 1, mortgage company Freddie Mac said.

For 15-year fixed-rate mortgages, a popular option for refinancing, rates fell to 5.15% from 5.21% last week. Rates on one-year adjustable-rate mortgages declined to 3.97% from 4.05%.

The nationwide averages for mortgage rates do not include add-on fees known as points. The 30-year and the one-year mortgages carried an average 0.8-point fee this week. Fifteen-year mortgages carried a 0.7-point fee.