Friday Rate Update

Mortgage Rates Continue to Fall

The rate for a 30-year fixed-rate mortgage averaged 3.66 percent this week, down from last week’s 3.73 percent and falling for the third consecutive week, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 4.41 percent.

This week’s 15-year FRM rate averaged 2.98 percent, down from last week’s 3.05 percent rate. A year ago, the 15-year FRM rate averaged 3.45 percent.