India, Sept. 16 -- US mortgage rates moved mostly lower on Wednesday, September 16, as markets waited for the Federal Reserve to finish its two-day rate-setting meeting. The average 30-year fixed mortgage rate slipped to 7.00%, down 2 basis points from Tuesday. According to Zillow's lender marketplace data.

The 30-year fixed rate is now right at the 7% mark. This rate is widely watched by homebuyers because the 30-year mortgage is one of the most common home-loan options in the US. According to the latest Zillow data cited by Yahoo Finance.

The 15-year fixed mortgage rate moved in the opposite direction. It rose 4 basis points from Tuesday to 6.36% on Wednesday. The 5/1 adjustable-rate mortgage (ARM) saw a bigger drop. Its average rate ...