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.

Mortgage rates fell again last week, and while the drop wasn’t huge, it was enough to spur current homeowners to look for some savings.

Mortgage rates declined for the second week in a row, lifting demand in the stagnant housing market as the affordability crisis continues to create headwinds.