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Mortgage Rates Move Lower

The 30-year fixed mortgage rate declined for the third consecutive week to 6.35 percent during the week ended Sept. 4 from 6.40 percent the prior week, according to Freddie Mac. The 15-year fixed mortgage rate slipped to 5.90 percent from 5.93 percent over the same period. Meanwhile, the five-year adjustable mortgage rate dropped to 5.97 percent from 6.03 percent; and the one-year ARM fell to 5.15 percent from 5.33 percent.

[SOURCES: Information, Inc.; Freddie Mac]