Nashville Mortgage Rates Decrease Slightly

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 6.37% during the week ended Oct. 4 from 6.42% the prior week. Interest on 15-year fixed rate mortgages fell to 6.03% from 6.09% over the same time span. Meanwhile, the one-year adjustable mortgage rate slipped to 5.58% from 5.6%, and the five-year hybrid adjustable rate declined to 6.11% from 6.15%. This marks the first decrease in Nashville mortgage rates in three weeks and is not expected to be the last decrease this month.