Morning Minute: Mortgage rates fall for third week

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Reversing a previous trend, fixed mortgage rates headed lower for the third consecutive week, Freddie Mac reports today. The 30-year, fixed-rate mortgage averaged 4.09 percent this week, down from 4.12 percent a week ago. The 15-year, fixed-rate mortgage was also lower, averaging 3.34 percent compared to 3.37 percent last week.  Read Freddie Mac’s news release.

“After trending down for most of the week, the 10-year Treasury yield rose following the release of the CPI report. In contrast, the 30-year mortgage rate fell three basis points to 4.09 percent, the third straight week of declines,” said Freddie Mac Chief Economist Sean Becketti.

In other headlines:

Housing starts surge in December to second-highest pace of recovery – MarketWatch

Economy: Jobless claims drop to lowest since 1973; housing starts jump 11% – USA Today

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