Disappointing Housing Numbers Mean Lower Interest Rates

You’ll probably read a bunch of PR spin saying that National Association of Realtors, Freddie Mac, and US Home Builders remain positive despite the disappointing readings for the US housing market.

We won’t express that real estate spin.

We will mention how mortgage rates declined this past week due to the disappointing housing numbers.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.99% compared with 4.08% the previous week and 4.86% a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.23% versus 3.3% a week earlier and 4.09% a year earlier.

How low will they go?

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