Mortgage Rates Retreat, Even Bigger Drop Possible

Interest rates on home loans were slightly lower this past week, and all indications are that an even bigger decline is ahead for fixed rates in the next report.

Residential loans that were closed and funded during August had an average 30-year note rate of 3.77 percent, 10 basis points less than the prior month.

A far more significant decline has been made compared to the same month last year, when the average 30-year note rate on loan originations was 4.31 percent.

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From:: Financing