Mortgage Rate News
Interest rates have continued to drop since mid October with the average 30-yr fixed rate mortgage recently dancing just around 6%.
It’s a mixed bag. There’s no way around the negative impact that flat home prices, cutbacks in new homes construction and ever-decreasing consumer spending continue to have on the overall economy. Manufacturers have experienced increases in overseas orders, but this is largely due to the weakened value of the dollar.
There are some positive indicators though.