MCLEAN, Va.--The 30-year fixed-rate mortgage continues to drop, averaging 6.17% this past week, Freddie Mac reported.
“Mortgage rates decreased for the fourth consecutive week. The last few months have brought lower rates and homebuyers are increasingly entering the market,” said Sam Khater, Freddie Mac’s chief economist.
The 30-year FRM averaged 6.17% as of Oct. 30, down from last week when it averaged 6.19%. A year ago at this time, the 30-year FRM averaged 6.72%. The 15-year FRM averaged 5.41%, down from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 5.99%, Freddie Mac said.