Mortgage rates continue to drop as demonstrated in this week’s Freddie Mac Weekly Survey. The survey showed 30 year fixed rates dropping another 10 basis points from last week to 4.22%. The 15 year fixed-rate was down 8 basis points to 3.29%.

Rates are back down to levels last seen in June when the Federal Reserve announced plans to taper its bond purchases. These plans have yet to materialize. Mortgage interest rates will continue to be dependent upon what the Federal Reserve says and does, but right now are moving on speculation of continued inaction. Look for rates to really move once they actually take action.

Note: Chart above is dynamic and reflects current survey, updated weekly.

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