Fixed-Rate Mortgage

Mortgage Rates Inch Downward 

Mortgage rates continued to fall back toward the 5 percent mark this week despite the upward trend seen in mid-January and into February. The average mortgage interest rate on 30-year fixed-rate mortgages (FRMs) was 5.04 percent with an average 0.7 point for the week ending Feb. 19, down from 5.16 percent the week before, according to a survey released Thursday by Freddie Mac [stock FRE][/stock]. The average rate for 15-year FRMs came in at 4.68 with an average 0.6 point, down from 4.81 the week before.