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30-Year Mortgage Rates Dip Again, to 6.63%
Mortgage rates around the country dipped for the second week in a row, a dose of encouraging news for people thinking about buying a home.
Mortgage company Freddie Mac, in its weekly survey released Thursday, said that rates on 30-year fixed-rate mortgages dropped to a nationwide average of 6.63 percent for the week ended Aug. 2. That was down from the previous week's rate of 6.72 percent and was the lowest since mid-June.
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Mortgage rates dip for a second week
WASHINGTON - Mortgage rates have dipped for the second week in a row, encouraging news for people thinking about buying a home.
Mortgage company Freddie Mac, in its weekly survey released Thursday, said rates on 30-year fixed-rate mortgages dropped to a nationwide average of 6.63 percent for the week ending Aug. 2. That was down from last week's 6.72 percent and the lowest since mid-June.
Economists viewed the back-to-back dips as a nice reprieve from rates that have slowly moved up this year.
"Although lower rates are a welcome sight, we still feel that the 30-year fixed-rate mortgage rate will drift up and down somewhat over the next few months, but will average less than 7 percent for the year," said Frank Nothaft, Freddie Mac's chief economist.