Associated Press
July 16, 2004

Rates on benchmark 30-year, fixed-rate mortgages fell to 6% this week, down slightly from 6.01% last week and the lowest since April 23, mortgage company Freddie Mac said.

Rates for 15-year, fixed-rate mortgages, a popular option for refinancing, eased to 5.40% from 5.42% last week.

Rates on one-year adjustable-rate mortgages also were down, falling to 4.02% from 4.05% the previous week.

The nationwide averages for mortgage rates do not include add-on fees known as points. Each loan type carried an average fee of 0.6 point this week.

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