Mortgage Rates Continue to Drop, Reaching New Lows.

Mortgage rates for all fixed-rate mortgage types dropped for a second day, with the 15-year average dropping almost a quarter point to a four-week low. The only gainer of the day was the 10/6 ARM average, while the two jumbo ARM averages held steady. Refinancing rates also moved downward, with the 30-year refi average sinking 18 basis points and the 15-year refi average plunging 22 basis points. The national average for a 30-year fixed-rate mortgage is currently 6.82%.