The average for the 30-year fixed-rate mortgage fell five basis points to 5.25% in the week ending May 19, according to Freddie Mac.
A year earlier, the 30-year fixed-rate mortgage averaged 3%.
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Long-term mortgage rates fell slightly in the most recent weekly data but remained significantly higher than a year ago. So reports CNN.
The average for the 30-year fixed-rate mortgage fell five basis points to 5.25% in the week ending May 19, according to Freddie Mac.
A year earlier, the 30-year fixed-rate mortgage averaged 3%.