Read this interesting Wall Street Journal article on the front page of today’s issue Mortgage Rates Decline .
The article, written by Nick Timiraos, states international money seeking a safe haven is coming into the US and pushing domestic mortgage rates to the lowest levels of the year and back near 50 year lows. Many in the industry say rates could drift as low as 4.5% this summer and not rise to 6% as some economist projected. Rates on 30-year mortgages averaged 4.84% last week according to a survey by Freddie Mac. Rates late last Friday were quoted at 4.86%, the lowest since December 2009 according to a survey by financial publisher HSH Associates, and down from a high of 5.27% for the week ended April 9.