Low Interest Rates: No Need to Rush


Everyone knows interest rates are going up ... eventually. But so far this year they've stayed much lower, much longer than experts predicted.

Average interest rates for 30-year home loans slid to 5.06 percent (plus 0.7 percent in fees) for the week ending April 29. That's down from 5.07 percent the week before. Interest rates have been a hair above 5 percent for the last three weeks, according to Freddie Mac's Primary Mortgage Market Survey.

But rates were supposed to be racing upward. A year ago, Freddie Mac predicted rates would average 5.5 percent this quarter. Freddie Mac has already revised its prediction down to 5.3 percent.

So what's going on?

Originally published