Interest rates fall on 15-, 30-year mortgages

Mortgage company Freddie Mac said 30-year fixed-rate mortgages averaged 6.22% this week, down from 6.30% last week.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, were at 5.97%, down from 6.03% last week. Five-year adjustable-rate mortgages slipped to 5.96% from 6.01% last week. One-year ARMs dropped to 5.49% from 5.52% last week.

The mortgage rates don’t include add-on fees known as points. Thirty-year, 15-year and five-year mortgages had a U.S. average fee of 0.5 of a point.