The U.S. mortgage rate dipped below 7% for the first time since August this week, mortgage giant Freddie Mac revealed Thursday.
According to Freddie Mac, the average 30-year fixed-rate mortgage rate dropped to 6.95% during the week ending December 14.
Meanwhile, the average mortgage rate sat at 6.31% exactly one year prior.
This marks the seventh consecutive week that mortgage rates have dropped in the United States.
