For the third consecutive week, mortgage rates managed to remain under 3%, dropping three basis points last week to an average of 2.96%, according to Freddie Mac‘s PMMS.

Despite consistent forecasts of a market with rising rates, the 30-year fixed rate mirrored more closely numbers borrowers saw back in February. Sam Khater, Freddie Mac’s chief economist, pointed to a golden opportunity for homebuyers given the recent economic ressurgence.

“Consumer income and spending are picking up, which is leading to an acceleration in economic growth,” Khater said. “The combination of low and stable rates, coupled with an improving economy, details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com