This week, the average U.S. fixed rate for a 30-year mortgage averaged 3.51%, dropping to the second-lowest level in three years.

The pace is now 95 basis points below the 4.46% rate of the same week last year, according to the Freddie Mac Primary Mortgage Market Survey.

“This week’s mortgage rates were the second-lowest in three years, supporting homebuyer demand and leading to higher refinancing activity,” said Sam Khater, Freddie Mac’s chief economist. “Borrowers who take advantage…Click here to continue reading