The 30-year fixed mortgage rate dropped the fourth time in the past five weeks, according to data released by Freddie Mac Thursday, giving potential homeowners a reprieve before expected increases hit the market later this year.
According to the Freddie Mac survey of lenders, the 30-year fixed-rate average fell to 4.55 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.57 percent a week ago and 3.88 percent a year ago.
The 15-year fixed-rate average remained at 4.04 percent with an average 0.