The average 30-year fixed-rate mortgage fell three basis points from the week prior to 2.93%, according to data released Thursday by Freddie Mac‘s PMMS. This marks the first time in over two months mortgage rates have fluctuated outside a five basis point range above or below 3%.

“Mortgage rates continued to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, Freddie Mac’s Chief Economist.

Fannie Mae‘s economic and strategic group mirrored a similar outlook on inflation’s transitory effects on both mortgage rates and the housing market, citing it as details ⇒

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