Mortgage Rates Drop For Second Straight Week
Thirty-year fixed mortgage rates dropped again last week, with the weekly average rate borrowers were quoted on Zillow Mortgage Marketplace at 5.48%, down from 5.58% the week prior. For 15-year mortgages, borrowers were quoted on average, 4.87% and for 5-1 ARMS, 4.65%.
Following several weeks of steady mortgage rate increases, the past two weeks of declines are warmly welcomed. As of Tuesday afternoon, the national rate for 30-year fixed purchase mortgages was even lower: 5.35%. Check out up-to-the-minute rate tables for more.
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