Fixed mortgage rates reversed course this week and headed back down, according to Freddie Mac’s latest survey, with the average rate for a 30-year fixed-rate loan dropping to 3.54% from 3.63% last week.
The 15-year fixed home loan averaged 2.72%, down from 2.79% a week ago, Freddie Mac said.
The survey asks mortgage originators what they are offering to solid borrowers who pay less than 1% of the loan amount in upfront lender fees. Paying extra discount points can lower the rate. The survey doesn’t include third party charges that borrowers often pay, such as for appraisals and title insurance.