Frank Nothaft

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Mortgage Rates Drop for Second Week 

Jul 09, 2009By

Average mortgage rates across the board sunk to a six-week low for the week ending July 9, according to a weekly survey released today by mortgage giant Freddie Mac [stock FRE][/stock]. The average 30-year fixed mortgage rate dropped to 5.2% with an average 0.7 point, down from 5.32% from the previous week. 15-year FRMs averaged 4.69% with an average 0.7 point, slipping from 4.77% last week.

3d rendering of a row of luxury townhouses along a street

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