Mortgage rates declined for the second straight week, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate averaged 6.19% as of Dec. 4, down from last week when it averaged 6.23%. A year ago at this time, it averaged 6.69%.
The 15-year fixed-rate mortgage averaged 5.44%, down from last week when it averaged 5.51%. A year ago at this time, it averaged 5.96%.
Sam Khater, Freddie Mac’s chief economist, observed, “Compared to this time last year, mortgage rates are half a percent lower, creating a more favorable environment for homebuyers and homeowners.”
