Second Weekly Drop in U.S. Mortgage Rates

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U.S. mortgage rates dropped slightly for the second week in a row, according to Freddie Mac.

The 30-year, fixed-rate mortgage averaged 4.39 percent this week, down from 4.41 percent last week. At this time last year, the average was 3.41 percent. 

"Mortgage rates were flat to down a little this week amid reports that inflation remains subdued," Frank Nothaft, chief economist, Freddie Mac, said in the report. "The Consumer Price Index was up to 0.3 percent in December after being unchanged in November. For the year as a whole, consumer prices rose just 1.5 percent in 2013."

The 15-year fixed-rate mortgage averaged 3.44 percent, dropping from last week's 3.45 percent. A year ago it was 2.71 percent. 

The one-year treasury-indexed ARM averaged 2.54 percent, down from 2.56 percent last week.