The average rate on a 30-year mortgage in the U.S. edged lower for the second week in a row, a modest but welcome boost for prospective home shoppers in the midst of the spring homebuying season ...

"While a 15-year mortgage offers the greatest long-term savings, a 30-year loan [provides more flexibility with] lower monthly payments," says Debbie Calixto, sales manager at loanDepot.

The average rate on a 30-year mortgage is now at its lowest level since Dec. 26, when it was also 6.85%. It briefly fell to a ...