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Mortgage rates fall for second-straight week
National average on 30-year-fixed home loans now at 5.20 percent
30-year fixed mortgage rates chart
updated 1:43 p.m. ET, Thurs., July 9, 2009
Average rates for 30-year mortgages fell for the second-straight week, but still remained above record lows reached earlier this year, Freddie Mac said Thursday.
The average rate for a 30-year fixed home loan was 5.2 percent this week, down from 5.32 percent last week, Freddie Mac said. At this time last year, the average rate for a 30-year fixed mortgage averaged 6.37 percent.
Rates on 30-year mortgages fell to a record low of 4.78 percent earlier this year, spurring refinance activity.