US: Mortgage rates fall for the third week in a row

US homebuyers saw another week of falling mortgage rates, with the average rate dropping last week for the third week in a row.

According to data from Freddie Mac released today the 30-year fixed-rate mortgage averaged 6.32 per cent in the week ending March 30, down from 6.42% the week before. A year ago, the 30-year fixed-rate was 4.67 per cent.