Mortgage Rates Slip, Could Dip Further

There was a modest drop in mortgage rates this past week, and a similar decline is likely in the next report. Longer-term predictions are for a slight increase.

On mortgages that were closed during the month of July, thirty-year fixed rates averaged 3.87 percent, moving down 17 basis points from the prior month.

The improvement was even more significant compared to the same month during last year, when interest rates on residential loans averaged 4.29 percent.

---

…read more

From:: Financing