MCLEAN, Va.--Mortgage rates continue to slide, down for the second consecutive week, Freddie Mac reported.
According to Freddie Mac, the average 30-year fixed mortgage rate has decreased by five basis points to 6.76%, and the 15-year fixed rate has inched down by two basis points to 5.92%.
“Mortgage rates again declined this week,” said Sam Khater, Freddie Mac’s chief economist. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.”
The 15-year FRM averaged 5.92%, down from last week when it averaged 5.94%. A year ago at this time, the 15-year FRM averaged 6.47%.