Fed Report on Inflation Prompts Moderation in Interest Rates

Mortgage interest rates dropped slightly during the
week ended July 3 according to results of the Primary Mortgage Market
Survey released by Freddie Mac.

The 30-year fixed-rate mortgage (FRM) eased back from the 6.45 percent
with 0.6 point that it had averaged for the week ended July 26 to 6.35
percent also with 0.6 point.

Loan activity as measured by loan application volume
increased…

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