Rates on 30-Year Fixed Mortgages Decline

Interest rates for 30-year fixed-rate mortgages fell to 8.15% this week, down from the seven-month high of 8.18% a week ago, the Federal Home Loan Mortgage Corp. reported. That is more than half a percentage point higher than the 7.56% average of seven weeks before. On one-year, adjustable-rate mortgages, lenders this week have been asking an average initial rate of 5.91%, up from 5.80% last week and the highest since the week ended Aug. 1. Fifteen-year mortgages averaged 7.67%, down from 7.70% last week. The figures do not include points.