For the third straight week, interest rates on home loans dipped, according to a Freddie Mac survey of lenders cited by NerdWallet.
The 30-year fixed-rate mortgage averaged 3.93% with an average 0.6 points for the week ending Dec. 3. A year ago, the rate averaged 3.89%. For 15-years fixed rates, the average was 3.16% with an average 0.5 points. The same term priced at 3.10% a year ago.
“Treasury yields ticked down 3 basis points after weak manufacturing data. In response, the 30-year mortgage rate dropped 2 basis points to 3.93%,” Sean Becketti, chief economist for Freddie Mac, said in a release.