Mortgage rates settle back down

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Homes for Sale In MissoulaDemand for purchase loans up 16 percent from a year ago

By Inman News, Thursday, February 7, 2013. Inman News®

Mortgage rates settled down this week at levels well below historic norms after surging during the last week of January.

Rates on 30-year fixed-rate mortgages averaged 3.53 percent with an average 0.8 point for the week ending Feb. 7, unchanged from last week and down from 3.87 percent a year ago, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. Rates on 30-year fixed-rate loans hit a low in Freddie Mac records dating to 1971 of 3.31 percent during the week ending Nov. 21, 2012

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