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.

After faltering last week, mortgage interest rates resumed the upward path they've been on since late September.

The average rate on a 30-year mortgage in the United States dropped this week to the lowest level since late October. Mortgage buyer Freddie Mac said Thursday that the rate dipped to 6.69 percent from 6.

Because rates vary widely across lenders, it's always smart to shop around for your best mortgage rate and compare rates regularly, no matter the type of home loan you seek. Rates on 30-year new purchase mortgages shed another 4 basis points Tuesday,

The U.S. housing market received a glimmer of good news, as mortgage rates dipped to a multiweek low and home buyer activity jumped to a multimonth high, signaling some hope for the tight market, though activity remains far more muted than it was during the recent housing boom.