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MORTGAGE RATES LOWER IN WEEK

Mortgage rates dipped this week. The average interest rate on 30-year fixed-rate mortgages fell to 7.09 percent, down from 7.15 percent last week, according to a survey released Thursday by Freddie Mac, the mortgage company.

Fifteen-year mortgages, a popular option for refinancing, slipped to 6.66 percent last week, down from 6.70 percent the previous week.

On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.54 percent, compared with 6.64 percent the week before.

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