Did you hear that? It’s the sound of falling mortgage rates.

If you thought mortgage rates were on their way up, well…think again.  In a Primary Mortgage Market Survey just released (5/17) from Freddie Mac, mortgage rates were at their lowest level of the year, with a 30-year fixed-rate averaging 4.93%.  According the chief economist for Freddie Mac, interest rates on fixed-rate mortgages declined for the 5th straight week.  

Everything that goes down, must someday go back up again.  But, we’re certainly glad that home buyers still have the chance to take advantage of such incredibly great financing opportunities.

For more details on the Freddie Mac mortgage rate survey, click here.

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