Mortgage rates are down for the second straight week, but still remain stubbornly high for many would-be buyers.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.95% this week from 6.99% last week. The average rate on a 30-year loan was 6.69% a year ago.
The average rate on the 15-year fixed mortgage also decreased to 6.17% from 6.29% last week. One year ago, the rate on the 15-year fixed note averaged 6.10%.
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