30-Year Mortgage Rates End 2-Month Rise

The average interest rate on 30-year fixed-rate mortgages, which had been rising for two months, edged down to 7.63% this week from 7.65% last week, Freddie Mac said. Fifteen-year mortgages, a popular option for refinancing, averaged 7.28% this week, up from 7.26% last week. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.93%, down from 5.94% the previous week. The rates do not include add-on fees known as points, which averaged at or just over 1% of the loan amount for all three types of mortgages.