Freddie Mac reported a slight drop in mortgage rates this week, with the 30-year fixed-rate mortgage (FRM) averaging 2.86%.
That was one basis point lower from a week ago, and down from 2.99% last year, according to Freddie’s Primary Mortgage Market Survey. The benchmark rate has stayed below 3% in the past two months.
Meanwhile, the 15-year fixed-rate mortgage increased by one basis point to 2.16%. A year ago, at this time, the 15-year FRM was 2.54%.