AVERAGE MORTGAGE RATE TICKS DOWN

GRAPH SHOWING AVERAGE OF 30 YEAR MORTGAGE RATES OVER TIME

Mortgage rates took a dip this week, dropping to 6.6% from 6.73% for a 30-year fixed mortgage.  This is likely temporary, however.   Due to relative uncertainty in the banking industry, many investors fled to bonds driving the bond price up.  When bond prices rise, the interest rate usually falls.

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