Thinking about taking out a mortgage loan? Current mortgage rates fall to 6.88% for 30-year terms, while 15-year terms decrease to 6.13%.

Mortgage rates fell slightly in the week ending Nov. 14, marking the first time weekly rates have gone down since September. The average rate on a 30-year fixed-rate mortgage dropped seven basis points to 6.79%, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point.

Real Estate News Average rate on a 30-year mortgage slips for first time in weeks Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance the

Borrowing costs on 15-year fixed-rate mortgages also slipped by .01 percent this week to 5.99 percent from 6 percent last week. Meanwhile, borrowing costs on 30-year and 15-year h