U.S. mortgage rates edged lower this week, with the average 30-year fixed-rate mortgage at 6.67% as of Aug. 13, compared with 6.69% a week earlier and 6.58% a year ago, according to Freddie Mac.
The average 15-year fixed-rate mortgage fell to 5.96% from 6.01% the previous week. A year earlier, the rate averaged 5.71%.
Freddie Mac Chief Economist Sam Khater said mortgage rates remained relatively stable during the week. He also said housing affordability had improved from a year earlier and that recent increases in purchase and refinance applications indicated borrowers continued to respond to changes in mortgage rates.