Fixed Mortgage Rates Down Sixth Straight Week

Washington, DC, May 27, 2011 — Slower economic activity sent rates on fixed-rate mortgages lower for the sixth week in a row, Freddie Mac’s chief economist said on Thursday.

The 30-year fixed rate hasn’t been lower since early December. The loan averaged 4.6% for the week ending May 26, down from 4.61% last week and 4.84% a year ago.

Fifteen-year fixed-rate mortgages averaged 3.78% this week, down from 3.8% last week and 4.21% a year ago.