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Mortgage rates dip

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Mortgage rates for 30-year home loans dipped for the first time in a month to an average 5.09 percent, according to McLean-based Freddie Mac.

The average rates for 30-year fixed rate mortgages were down from 5.14 percent last week.

Rates are still well above the average 4.71 percent they reached in early December. Rates have been rising since then.

Freddie Mac reported that an average rate on a 15-year fixed-rate mortgage was down to 4.5 percent from 4.54 percent last week.

The average rate on a 15-year fixed-rate mortgage fell to 4.5 percent, down from 4.54 percent last week, according to Freddie Mac.


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