Long-term mortgage rates continued to move lower this week, with a 15-year fixed-rate mortgage falling to a record low for the second consecutive week.
The weekly rate report from Freddie Mac says 30-year fixed-rate mortgages averaged 3.35 percent in the week ending May 2, down from 3.4 percent last week. The average rate on a 30-year fixed rate loan is just above its all-time low of 3.31 percent set in November.
A 15-year fixed rate loan fell to an average of 2.56 percent, on par with average rates for both one-year and five-year adjustable-rate mortgages.
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