Friday Rate Update

Mortgage Rates Take Downward Turn
 
The rate for a 30-year fixed-rate mortgage averaged 4.10 percent this week, down slightly from the previous weeks 4.16 percent rate, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 3.64 percent.

This week's 15-year FRM rate averaged 3.32 percent, down from last week's 3.37 percent. A year ago, the 15-year FRM rate averaged 2.94 percent.

--ABA Daily Newsbytes