Average fixed mortgage rates declined for the second straight week, bringing them to a six-week low-and easing affordability conditions slightly as the homebuying season gets under way.
Per Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed rate mortgage (FRM) this week averaged a rate of 4.27 percent (0.7 point), down from 4.34 percent last week. A year ago, the 30-year FRM sat at 3.41 percent. At the same time, the 15-year FRM averaged 3.33 percent (0.6 point), down from an average 3.38 percent. All 5 national indices showed a decline for the second consecutive month. See more
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