Average US 30-year mortgage rate down to 4.22 pct.

By Marcy Gordon

Published October 3, 2013 2:35pm ET

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Average US 30-year mortgage rate down to 4.22 pct. — In this Wednesday, Sept. 18, 2013 photo a for sale sign hangs in front of a house in Walpole, Mass. Freddie Mac reports on mortgage rates for the last week of September on, Thursday, Oct. 3, 2013. (AP Photo/Steven Senne) | Steven Senne

WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell for the third straight week to their lowest point in three months, as a decline in consumer confidence and the onset of the government shutdown forced rates down.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan dropped to 4.22 percent from 4.32 percent last week. The average on the 15-year fixed loan declined to 3.29 percent from 3.37 percent.

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