Long-term mortgage interest rates were down again Friday with the benchmark 10-year Treasury bond yield dipped to 3.87 percent.
The 30-year fixed-rate average sank to 5.57 percent, and the 15-year fixed rate slid to 5.11 percent. The 1-year adjustable rate was down at 5.38 percent.
If you have a loan with an adjustable rate, it may be a good time to look at refinancing.
If you are looking to purchase a home, rates are still historically low.
As always do your homework with a good mortgage broker to look at your particular situation.
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