U.S. mortgage rates fell this week after rising to their highest level in four year, according to Freddie Mac.
The 30-year fixed mortgage averaged 4.55 percent for the week ending May 3, down from 4.58 percent the previous week. A year ago, mortgage rates stood at 4.02 percent.
Favorable mortgage rates have helped drive U.S. home sales, as well as the refinance market.
“While mortgage rates have increased by one-half of a percentage point so far this year, it has not impacted home purchase demand,…
