Mortgage rates drop again

WASHINGTON, D.C. (AP) - Mortgage rates dropped for a second consecutive week, reflecting the impact the weakening economy is having on financial markets.

Freddie Mac, the mortgage giant, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.14 percent last week, down from 6.20 percent the previous week. It marked a sharp decline since rates hit a high of 6.46 percent a few weeks ago.

Analysts attributed the back-to-back decreases to financial markets growing more confident that the Federal Reserve will cut rates again at its final meeting of the year in December in an effort to combat a severe slowdown many...