interest rate

The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.47 percent from 6.57 percent, with points decreasing to 1.10 from 1.14 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.



The average contract interest rate for 15-year fixed-rate mortgages decreased to 5.99 percent from 6.17 percent, with points increasing to 1.18 from 1.06 (including the origination fee) for 80 percent LTV loans.



The average contract interest rate for one-year ARMs decreased to 7.07 percent from 7.15 percent, with points increasing to 0.42 from 0.38 (including the origination fee) for 80 percent LTV loans