Rates on 30-Year, 15-Year Mortgages Flat

The average interest rate on 30-year fixed-rate mortgages was 7% this week, unchanged from last week, Freddie Mac said.

Fifteen-year mortgages, a popular option for refinancing, also were flat, holding at 6.54% this week, the same as the previous week. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.70%, down from 5.77% the week before.