Mortgage interest rates have fallen for 2 weeks in a row according to Freddie Mac and could fall going into the spring. In the last year the rate on the 30 year fixed mortgage was between 7.2% and 5.9%, but with the economy and jobs forecast looking rosy and inflation under control, it looks like the federal reserve may not raise interest rates in the near term.
The forecast for mortgage interest rates by most sources is that rates will drop, since 18 months is usually the length of time in which mortgage rates rise. Also home prices keep going up as the housing market is seeing a lack of homes for sale.
