Mortgage Rates Continue to Decline for Fifth Consecutive Week
Freddie Mac's weekly rate survey shows that the average 30yr fixed rate is almost perfectly in line with last week's levels. However, borrowers attempting to lock a rate today are seeing higher rates compared to last week, especially when compared to Wednesday and Thursday. The discrepancy is due to Freddie's survey being an average of the entire week and based on rates entered into lenders' underwriting systems, which may not be the same rates that end up being locked.