Mortgage rates decline for second week, but no major drops expected soon

Mortgage rates fell for the second week in a row, but economists are not expecting any significant declines in the near future.Freddie Mac's latest Primary Mortgage Market Survey released Thursday showed that the average rate on the benchmark 30-year fixed mortgage dropped to 6.74% this week from 6.88% last week. The average rate on a 30-year loan was 6.60% a year ago.The average rate on the 15-year fixed mortgage also fell to 6.16% after coming in last week at 6.22%. One year ago, the rate on t