Mortgage Rates

Mortgage charges dip again beneath 3% | Enterprise

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Mortgage rates didn’t stay above 3% for long. After just a week, they fell back below this level.

According to the latest data released by Freddie Mac on Thursday, the 30-year average of fixed rates has fallen to 2.98%, averaging 0.6 points. (Points are fees paid to a lender equal to 1% of the loan amount. They are in addition to the interest rate.) A week ago it was 3.02% and a year ago it was 3.07%.

The 15-year average of fixed interest rates fell to 2.26% with an average of 0.7 points. A week ago it was 2.34% and a year ago it was 2.56%. The five-year average of the variable interest rate rose to 2.54% with an average of 0.3 points. A week ago it was 2.53% and a year ago it was 3%.

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