U.S. mortgage rates fell for the second consecutive week after a rapid rise in June, the latest data from loan mortgage company Freddie Mac shows.
The interest rate on a 30-year fixed-rate mortgage declined to 5.3 percent for the week ending July 6, down from 5.7 percent on June 29, according to Freddie Mac’s data. In the past two weeks, interest rates declined by over 50 basis points. This followed a 70-point rise from June 1 to June 22.
