Mortgage Rates Take Downward Turn

The rate for a 30-year fixed-rate mortgage averaged 4  percent this week, down from last week’s 4.04 percent, Freddie Mac said today. At this time last year, the 30-year FRM rate averaged 4.17 percent. This week’s 15-year FRM rate averaged 3.23 percent, down from last week’s 3.25 percent rate. A year ago, the 15-year FRM rate averaged 3.3 percent.