Mortgage rates down in the U.S for a second week

Like before, 30 year mortgage rates have fell for the second week in succession. This is a result of consumer confidence being low and the slow down in home sales.

The average rate for a 30-year mortgage is now down to 6.16 percent which is only a drop of 0.01 percent, but that is better than an increase. This is not the lowest, as in March the interest came down to 6.14%.

It is not only the 30-year mortgage interest rate that has dropped, the 15 year mortgage has also fallen from 5.89 percent to 5.87%.

The drop in interest rates has been a trend for the last few months, and there seems to be no signs of this changing for the coming months ahead.