Mortgage rates didn’t stay above 3% for long. After just one week, they slid back below that level.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dropped to 2.98% with an average 0.6 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 3.02% a week ago and 3.07% a year ago.