Mortgage Rates Keep Slipping

Good morning, and good news: Mortgage rates continued to decline this week, pulling back from recent highs, Inman News reports.

Inman News: "In Freddie Mac's survey, the 30-year fixed-rate mortgage sank to an average 6.63% from 6.67% last week....  'Long-term mortgage rates continued to move lower for a third consecutive week, in part reflecting a moderation in core inflation,' Freddie Mac's Frank Nothaft said."

Bankrate.com's average 30-year-mortgage interest rates this week: 6.78% in L.A., down from 6.79% a week ago.

Freddie Mac Timeline
6/14      6.74%
6/21      6.69%
6/28      6.67%
7/5        6.63%

Thoughts, comments, insights always welcome. E-mail story tips to lalandblog@yahoo.com
A note: Please keep comments respectful and free of profanity.
Photo Credit: Reuters

r

Comments

[LA Expat In Arkansas]

Well Kate didn't take me up on buying a 4.5 acre ranch w/ killer view and swimming pool just outside of Little Rock, Arkansas, but what about the rest of you? Check out www.sharpMLS.com/110899. Surely there's someone who sees the wisdom in cashing out of Van Nuys, paying all cash for a fabulous home and having money in the bank. I sleep much better at night with a house payment that's less than my old California property tax bill. Sure I miss the traffic and police chases - not to mention overcrowded schools. And you will too.. for about five minutes. Come on out, The Natural State needs you.

[Inland Empire]

I like the LA mosquitos better than the Arkansas ones.

[waarce]

Who wants to live in hillbilly country? Where is the trailer? It looks like Jerry Springer territory! Where are the chikens?

[Travelingman]

There's no monopoly on springer craziness in hillbilly country - LA does a good job on its own

just saying

given inflation concerns, rates aren't likely coming down too much. the x-factor is if they go up over time.