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US rate on 30-year mortgage dips to 4.29 percent

The Associated Press

Average U.S. rates on fixed mortgages fell this week after last week's surge. The declines could prompt homebuyers to act quickly before rates rise further.

Here's a look at rates for fixed and adjustable mortgages this week and over the past year:

Current avg. Last week 52-week high 52-week low
30-year fixed 4.29 4.46 4.46 3.31
15-year fixed 3.39 3.50 3.50 2.56
5-year adjustable 3.10 3.08 3.10 2.56
1-year adjustable 2.66 2.66 2.71 2.52
All values in percentage points
Source: Freddie Mac Primary Mortgage Market Survey