by Calculated Risk on 8/28/2008 11:31:00 AM

From Housing Wire: Mortgage Rates Drift Lower as Economic Concerns Linger

Economic concerns continued to help mortgage rates in the past week, according to data released Thursday by Freddie Mac. The GSE said that its weekly mortgage market survey found 30-year fixed-rate mortgages averaged 6.40 percent with an average 0.6 point for the week ending Aug. 21, down 7 basis points from last week. Last year at this time, the 30-year FRM averaged 6.67 percent.

Personal Note: I'll be hiking the John Muir Trail from Yosemite Valley to Mt Whitney (and to Whitney Portal) starting on Sunday morning. While I'm gone, Paul Jackson from Housing Wire will be helping Tanta.

When I return I'll have more time for analysis (all the hours working out has really cut into my analysis time over the last couple of months)! In a couple of weeks I'll post my forecasts for housing and the economy. Also - I apologize for not responding to all emails recently. Best to all.