Rates Dip

The average 30-year fixed mortgage rate fell to 5.82% for the week ending April 18 from 5.85% the previous week, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate fell from 5.17% to 5.12%, while the average rate for one-year Treasury-indexed adjustable-rate mortgages drifted down from 3.80% to 3.79%. Fees and points averaged 0.6 points for all three mortgage categories. "Housing is poised for another exceptional year," said Frank Nothaft, Freddie Mac's chief economist. "For instance, for the year so far, mortgage rates have been continually under 6%, as opposed to last year when rates averaged about a half percentage point higher." A year ago, the average 30-year and 15-year fixed rates were 6.94% and 6.42%, respectively, and the average one-year ARM rate was 4.95%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.