Mortgage Rates Decline: Rates for 30-year fixed...

Mortgage Rates Decline: Rates for 30-year fixed mortgages fell 0.04 percentage points last week while adjustable-rate mortgages dropped 0.07 percentage points, the Federal Home Loan Mortgage Corp. said. The agency, which buys mortgages from lenders and packages them as securities for sale to investors, said interest on fixed-rate loans fell to 10.03% last week, down from 10.07% the week before. Adjustable-rate mortgages averaged 8.85%, down from 8.92%. The fixed-rate average is for a 30-year loan covering 80% of a home’s cost. Adjustable-rate mortgages cover 75% of the home’s price.