WASHINGTON (AP) _ Thirty-year, fixed-rate mortgages averaged 7.95 percent this week, down from 8.05 percent last week, according to a national survey released Thursday by the Federal Home Loan Mortgage Corp.

Last week's average was the highest since 8.27 percent during the week ended May 4, 1995, the last time rates topped 8 percent. Rates then dropped to a two-year low of 6.94 percent last October before starting a gradual rise.

On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.75 percent, down from 5.80 percent last week.

Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.48 percent this week, down from 7.56 percent a week earlier.

The rates do not include add-on fees known as points.