Mortgage rates dropped for a second consecutive week, Freddie Mac said Thursday.

The average 30-year fixed rate dropped three basis points to 5.06% in the week ended Thursday, Freddie said. Rates reached a record low of 4.71% last month.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.