Freddie Mac's Take on Mortgage Rates

Market Summary
Once again, the tenor of the economic news for last week was generally positive. For starters, the rates for most mortgages - except the 5/1 ARM, eased just a bit for the first time in five weeks. Freddie Mac's chief economist, Frank Nothaft, offered some insight on the reversal. He said, "Tame core inflation figures and market confidence that the Fed will continue to keep inflation low kept mortgage rates in check this week. Over the long term, we expect mortgage rates will bounce back and forth a bit, remaining near current levels."

Bobbi Dickerson, Preferred Mortgage.