30-Year Mortgage Rates Continue to Decline

Average Drops to 7.05% as Most Other Loan Averages Also Dip

30-year mortgage rates have declined for a fourth consecutive day, bringing the average down to 7.05%.
Most other loan averages also dipped, with a handful remaining steady.
30-year rates remain well below the historic 23-year peak of 8.45% registered in mid-October.
15-year new purchase average also declined, subtracting 5 basis points, now at 6.37%.
The jumbo 30-year average held steady for an eighth market day at 6.57%.