Each week Bankrate publishes a survey of large lenders in the top 10 markets to get a snapshot of where mortgage rates stand. This week marks the second week in a row that rates have declined (-0.02% for 30-year fixed rate).
The good news is mortgage rates fell for the second week in a row. The bad news is they're still almost half a percentage point higher than they were three months ago.
The benchmark 30-year fixed-rate mortgage fell 2 basis points, to 6.74 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.26 discount and origination points. One year ago, the mortgage index was 6.93 percent; four weeks ago, it was 6.47 percent.
Source: AOL Real Estate News
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