Mortgage Rates Fall To 4-Week Low, Record Low Listings Keep Homebuyers On Sidelines

(Washington, DC) — A four-week low in interest rates couldn’t overcome a record low in real estate listings last week. That supply shortage kept a lot of prospective homebuyers on the sidelines. The Mortgage Bankers Association reports applications for loans to buy homes fell three-percent while applications to refinance existing mortgages rose two-percent. The national average interest rate for a 30-year fixed-rate mortgage fell three basis points, to three-point-27 percent.