Mortgage Rates Drop As Housing Market Begins To Cool

Mortgage rates fell for the second week in a row, giving buyers another shot at savings during the summer homebuying season. The 30-year, fixed-rate mortgage averaged 5.3% for the week ending July 7, down 40 basis points—one one-hundredth of a percent—from 5.7% the previous week, according to Freddie Mac. The 30-year fixed rate has fallen…