Average mortgage rate declines

The average rate for a 30-year fixed-rate mortgage was 6.10 percent over the last week, its lowest level in more than two years, mortgage giant Freddie Mac said today.

In its weekly mortgage market survey, Freddie Mac noted that the week's average for a 30-year fixed-rate mortgage was down from the previous week's average of 6.20 percent and from the weekly average from a year ago of 6.14 percent.

The average for this kind of mortgage has not been lower since the week ending Oct. 13, 2005, when the average was 6.03 percent, Freddie Mac said.
(By Chris Reidy, Globe staff)