Purchase mortgage rates this week averaged 5.10% continuing a decline from last week amid a housing market slowdown, according to the latest Freddie Mac PMMS. 

A year ago at this time, 30-year fixed rate purchase rates were at  2.95%. The government-sponsored enterprise index accounts solely for purchase mortgages reported by lenders during the past three days.

“Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing,” said Sam Khater, Freddie Mac’s chief economist. “Despite the recent moderation in rates, the housing market has clearly slowed, and the deceleration is details ⇒

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