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NEW YORK — Rates on fixed mortgages dipped after rising for five weeks in a row.
Still, they remain more than a half-point higher than last month and are at the highest level since late spring.
Freddie Mac said Thursday that the average rate on a 30-year fixed mortgage slipped to 4.81 percent from 4.83 percent in the previous week. Last month, the rate reached a 40-year low of 4.17 percent but has since been edging higher.
The average rate on the 15-year loan, a popular refinance option, also fell to 4.15 percent from 4.17 percent. It hit 3.57 percent in November, the lowest level since such record-keeping started in 1991.
The Associated Press
