Solve Your Debt Problems

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Good morning. Our weekly roundup of mortgage rates is a day late and will be short: Rates were unchanged this week, and today’s bond market rally makes it quite possible they will be lower next week.

An interesting trend: The collapse of the subprime market may help keep interest rates from rising. Investors spooked by the subprime mess are flocking to the safety of government bonds, and in the process are driving down interest rates.

But first, the numbers: Inman News reports Freddie Mac’s survey showed the 30-year fixed-rate mortgage holding at an average 6.73%.
Bankrate.com’s separate survey showed average 30-year mortgage rates in L.A. at 6.9%, rising from 6.82% last week.

Freddie Mac Timeline:

6/14 6.74%
6/21 6.69%
6/28 6.67%
7/5 6.63%
7/12 6.73%
7/19 6.73%

Comments? Insights?