The Federal Home Loan Mortgage Corp. said...

The Federal Home Loan Mortgage Corp. said fixed-rate mortgage rates dropped 0.12 percentage points this week and adjustable-rate deals dipped 0.02 percentage point. The agency, which buys mortgages from lenders and packages them as securities for sale to investors, said interest on fixed-rate loans dropped to 10.53% this week, down from 10.65% the week before. Adjustable-rate mortgages averaged 8.14%, down from 8.16% last week. The fixed-rate average is for a 30-year loan covering 80% of a home’s cost. The average adjustable-rate mortgage also is for 30 years but for 75% of the home price.