Friday Rate Update

Mortgage Rates Fall 

The rate for a 30-year fixed-rate mortgage was 3.61 percent this week, down from 3.66 percent the week prior, Freddie Mac said yesterday. At this time last year, the 30-year FRM averaged 3.80 percent.

This week’s 15-year FRM averaged 2.86 percent, up from last week’s average of 2.89 percent. A year ago, the 15-year FRM averaged 3.02 percent.