WASHINGTON (AP) — Mortgage rates around the country fell this week, with rates on 30-year mortgages dipping to the lowest level since January.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent, down from 6.18 percent last week. That was the lowest rate since the week of Jan. 26, when 30-year mortgage rates averaged 6.12 percent.
It marked the third straight weekly decline in rates, a development that economists attributed to easing inflation pressures as the overall economy slows, held back by a huge drop in housing activity.

Rates on 30-year mortgages have been steadily declining since they peaked at 6.80 percent in late July.Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, averaged 5.87 percent, down from 5.91 percent last week.
For one-year adjustable rate mortgages, rates fell to 5.46 percent, down from 5.49 percent last week.
Five-year adjustable rate mortgages dropped to 5.95 percent, compared with 5.99 percent last week.
The mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried a nationwide average fee of 0.4 point. One-year and five-year ARMs both carried a fee of 0.5 point.
A year ago, 30-year mortgages averaged 6.26 percent. Fifteen-year mortgages stood at 5.81 percent, one-year ARMs were at 5.16 percent and five-year ARMs averaged 5.76 percent.
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