As consumer fears subside, mortgage rates have dropped again. Freddie Mac reports the average on the 30-year mortgage has fallen from 4.51 to 4.37% this week, according to USA Today. The 15-year average mortgage rate fell from 3.41% to 3.31%.
There’s an increased demand for purchase mortgages since buyers want to get low rates now, according to the LA Times. Mortgage software provider Ellie Mae said that purchase loans increased 7% in June. LA Times also reports that consumer sentiment has fallen to a 3 month low this month.
Dallas, Texas is seeing an improvement: Their housing market hit an all-time high with home prices in many neighborhoods up 10% or more in the first half of 2013, according to Dallas News.
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