Mortgage Rates Drift Lower as Economic Concerns Linger

"Economic concerns continued to help mortgage rates in the past week, according to data released Thursday by Freddie Mac. The GSE said that its weekly mortgage market survey found 30-year fixed-rate mortgages averaged 6.40 percent with an average 0.6 point for the week ending Aug. 21, down 7 basis points from last week. Last year at this time, the 30-year FRM averaged 6.67 percent."