Mortgage rates decline

By Francine Knowles

The average 30-year fixed-rate mortgage fell to 6.26 percent this week from 6.37 percent last week, Freddie Mac, the mortgage company, reported Thursday.

It marked only the second weekly decline in the last eight weeks and left the 30-year rate at the lowest point since it averaged 6.09 percent the week of June 5.

Rates on 15-year fixed-rate mortgages edged down to 5.78 percent, from 5.91 percent last week, and rates on five-year adjustable-rate mortgages fell to 5.80 percent from 5.82 percent. One-year ARMs dropped to 5.10 percent from 5.17 percent.