U.S. mortgage rates drop for third straight week

U.S. mortgage rates fell for the third consecutive week remaining below the 3% mark, according to Freddie Mac. The 30-year fixed mortgage rate averaged 2.88% for the week ending July 15 — a decline from 2.90% last week. More than three months ago, mortgage rates hit 2.65%, which was the lowest since tracking began in 1971. A year ago, mortgage rates stood at 2.98%. Low mortgage rates help propel U.S. home sales and the refinance market. “The summer swoon in mortgage rates continues as the…