Average rate on 30-year mortgage eases to 6.35%, lowest in over a year

TYSONS, Virginia: The average rate on a 30-year mortgage has decreased for the second consecutive week, reaching its lowest level in over a year, offering some relief to prospective homebuyers amid high home prices.

Freddie Mac reported that the rate dropped to 6.35 percent from 6.46 percent the previous week.

A year ago, the rate was significantly higher, averaging 7.18 percent. The last time rates wer