30-Year Mortgage Rates Drop to 8.13%

The average interest rate on 30-year fixed-rate mortgages declined to 8.13% this week, compared with 8.21% the previous week, Freddie Mac said. Fifteen-year mortgages, a popular option for refinancing, fell to 7.85%, down from 7.93% the previous week. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 7.29%, down from last week’s rate of 7.32%. The rates do not include add-on fees known as points.