U.S. mortgage rates declined

WASHINGTON, July 17 (UPI) -- Interest rates for 30-year, fixed-rate mortgages declined in the United States in the last week, the Federal Home Loan Mortgage Corp. said Thursday.

The 30-year fixed interest rate averaged 6.26 percent with an average 0.6 points for the week ending July 17, compared with 6.37 percent the previous week, Freddie Mac said.

A year ago, 30-year fixed rate mortgages averaged 6.73 percent.

At 5.78 percent with an average 0.6 points, the 15-year fixed rate average declined from the previous week's average of 5.91 percent.

"Mortgage rates fell this week amid market speculation that the Federal Reserve may not raise the overnight bank-lending rate this year after all," said Frank Nothaft, Freddie Mac vice president and chief economist.