According to Freddie Mac, the average on the 30-year fixed-rate mortgage was 6.35% in the week ending May 11, compared with 6.39% the previous week and 5.30% a year ago.
“This week’s decrease continues a recent sideways trend in mortgage rates, which is a welcome departure from the record increases of last year," Freddie Mac’s chief economist, Sam Khater, said in a statement.
