Freddie Mac reported a slight cut in mortgage rates this week, with 30-year fixed rate mortgages (FRM) averaging 2.86%.
That’s one basis point lower than a week ago and down 2.99% last year, according to Freddie’s primary mortgage market research. The base rate has remained below 3% for the past two months.
Meanwhile, the 15-year fixed rate mortgage increased one basis point to 2.16%. A year ago, at this time, the 15-year FRM was 2.54%.