Mortgage Rates Slip For Fourth Week

Mortgage Rates Slip For Fourth Week

Mortgage rates fell for the fourth week in a row, bringing the 30-year rate to its lowest level since April, on signs of weakness both in the housing sector and in the larger economy, Freddie Mac reported.

The average rate on 30-year fixed-rate loans fell to 6.52 percent for the week ending Aug. 17 from 6.55 percent the week before, reaching its lowest level since April 20.

A year ago, the 30-year mortgage rate averaged 5.80 percent. The last time the 30-year rate was this low was the week of April 13, 2006.

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