30-Year Mortgage Rates Dip Below 8%

Fixed 30-year mortgage interest rates fell below 8% this week for the first time this year, Freddie Mac said. Rates on 30-year mortgages dipped to an average of 7.96% from last week’s 8.04%. It’s the first time since the week ended Dec. 24 that rates have dipped below 8%. Rates on 15-year mortgages fell to an average of 7.70% from 7.75% the week before, their lowest since the final week of last year. One-year adjustable-rate mortgages declined also to an average of 7.21% this week from 7.28% the week before. The rates do not include add-on fees, or points.