Rates on a 30 year fixed rate mortgage fell to an average of 6.74%
(last week’s rate was 6.79%).  This was the first decrease in 5 weeks.

While
housing sales are still expected to decline due to rising costs of
homes, spurred by rising rates, it’s important to remember that
economists don’t expect rates to do more than gradually rise through
the year.  

Rates will probably further this year, but rejoice, rates on the 30 year mortgage are down for the time being.

By Philippe Volo
Compare Your Loans Contributing Editor