MCLEAN, Va.—The average rate for a 30-year fixed mortgage dropped slightly to 6.81% this week, down from 6.83% last week, according to Freddie Mac. At this time last year, the rate stood at 7.17%.
“The average mortgage rate decreased slightly this week,” said Sam Khater, Freddie Mac’s chief economist. “Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less than 20 basis points, and this stability continues to bode well for buyers and sellers alike.”
The 15-year FRM averaged 5.94%, down from last week when it averaged 6.03%. A year ago at this time, the 15-year FRM averaged 6.44%.