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Crude oil prices drop Wednesday
Thursday, July 9
The 30-year, fixed-rate mortgage averaged 6.04 percent with an average 0.6 points during the week, Freddie Mac (NYSE:FRE) said.
A week ago, 30-year, fixed-rate mortgages averaged 6.46 percent. Interest rates averaged 6.33 percent a year ago.
At 5.72 percent with an average 0.6 points, the 15-year, fixed-rate average also declined, dropping from the previous week's average of 6.14 percent. A year ago, 15-year fixed-rate mortgages averaged 5.99 percent, the report said.
Interest rates fell "amid news of tame inflation and a weaker housing market," Freddie Mac vice president and chief economist Frank Nothaft said in a statement.