Rates on 30-year and 15-year mortgages dipped this week, a development that should help keep the housing market humming.
Rates on 30-year, fixed-rate mortgages averaged 5.74 percent for the week ending Nov. 18, Freddie Mac said. That was down from 5.76 percent last week.
For 15-year, fixed-rate mortgages, a popular option for refinancing, rates this week averaged 5.15 percent, down slightly from 5.16 percent last week.
For one-year adjustable rate mortgages, rates increased a bit to 4.17 percent this week, compared with 4.16 percent last week.
The Mortgage Bankers Association, meanwhile, said refinancing accounted for 48.6 percent of all home mortgage loan applications filed last week, up from 45.2 percent in the previous week.