Mortgage rates fell for the second week in a row, but their decline may be short-lived.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 2.94% with an average 0.7 point. (Points are fees paid to a lender equal to 1% of the loan amount. They are in addition to the interest rate.) It was 2.96% a week ago and 3.28% a year ago.