Mortgage Rates Decline For Second Consecutive Week
By CU Today Staff —
MCLEAN, Va.— Mortgage rates declined for the second consecutive week, with the average 30-year fixed-rate mortgage slipping to 6.65%, according to Freddie Mac’s latest Primary Mortgage Market Survey.
The rate was down from 6.67% a week earlier but remained above the 6.58% average recorded a year ago.
“The 30-year fixed-rate mortgage declined this week averaging 6.65%,” said Sam Khater, Freddie Mac’s chief economist. “With a dip in rates providing modest relief for homebuyers, it’s important to remember borrowers can potentially save thousands...”
The average 15-year fixed-rate mortgage also edged lower, falling to 5.95% from 5.96% the previous week, Freddie Mac reported. A year ago, the 15-year rate averaged 5.69%.
Originally reported by CU Today.