The Real Deal Miami

Mortgage rates lowest since mid-2013

Declined for third straight week

Mortgage rates are down to their lowest levels since May 2013.

This week rates declined for the third straight week, with lenders offering on average 3.63 percent on a 30-year fixed loan —  down .02 percent from two weeks ago.

The mortgage finance giant Freddie Mac reported that this week’s rate for a 30-year mortgage fell from 3.66 percent last week and 4.39 percent a year earlier. Lenders are also offering a 15-year fixed loan at a lower rate from last week and a significantly lower rate from 2014, the Sun Sentinel reported.

This historic decline has led to a growth in mortgage applications, according to the newspaper. [Sun Sentinel] — Kristina Puga