Friday Rate Update

Mortgage Rates Edge Down 

The rate for a 30-year fixed-rate mortgage averaged 4.15 percent this week, down slightly from the previous week's 4.17 rate. At this time last year, the 30-year FRM rate averaged 3.65 percent.

This week's 15-year FRM rate averaged 3.35 percent, down from last week's 3.39 percent. A year ago, the 15-year FRM rate averaged 2.95 percent.

---ABA Daily Newsbytes