There's no easy way to say it: it was a bad week for mortgage rates.  Actually, it was a bad week for interest rates in general and mortgage rates typically follow the rest of the rate market.

The average rate on a 30-year mortgage in the U.S. has eased for the third week in a row. That's a welcome trend for prospective homebuyers during what’s typically a less competitive time of the year for the housing market.

U.S. mortgage rates dropped to the lowest level in nearly two months this week, a trend that if sustained could boost home sales in the coming months.