“Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing,” says Sam Khater, Freddie Mac’s chief economist. “Despite the recent moderation in rates, the housing market has clearly slowed, and the deceleration is spreading to other segments of the economy, such as consumer spending on durable goods.”

Freddie Mac reports the following national averages with rates for the week ending May 26:

*30-year fixed-rate mortgages: averaged 5.10%, with an average 0.9 points, dropping from last week’s 5.25% average. Last year at this time, they averaged 2.95%.

*15-year fixed-rate mortgages: averaged 4.31%, with an average 0.8 points, dropping from last week’s 4.43% average. A year ago, they averaged 2.27%.

Source: Freddie Mac