My Real Estate Blog

The 15-year rate this week averaged 4.20%, down slightly from last week when it averaged 4.21%. A year ago at this time, the 15-year rate averaged 4.79%.  The 15-year rate has not been lower since Freddie Mac started tracking the 15-year in August of 1991 and breaks last week's record low.  

The economy grew at a slower rate than originally reported in the first three months of the year, according to the Bureau of Economic Analysis , which suggests inflation will remain tame in the near term.

There are also signs that credit conditions may be improving. The number of homeowners with private mortgage insurance who became current on their mortgages outnumbered those who defaulted for the third month in a row in April, according to data compiled by the Mortgage Insurance Companies of America .